On March 25, 2021, Phillips Corporation purchased bonds of Atlas Corporation for $141 million and classified the securities as trading securities. On December 31, 2021, these bonds were valued at $166 million. Three months later, on April 3, 2022, Phillips Corporation sold these bonds for $152 million. As part of the multistep approach to record the 2022 transaction, Phillips Corporation should first update the fair value adjustment by recording: Multiple Choice An unrealized holding gain of $39 million in 2022. A gain of $11 million in 2022. An unrealized holding loss of $14 million in 2022. An unrealized holding gain of $11 million in 2022.