On October 15, 2025, Oil Products Co. purchased 4,000 barrels of fuel oil with a cost of $240,000 ( $60 per barrel). Oil Products is holding this inventory in anticipation of the winter 2026 heating season. Oil Products accounts for its inventory at the lower-of-FIFO cost-or-net realizable value. To hedge against potential declines in the value of the inventory, Oil Products also purchased a put optio on the fuel oil. Oil Products paid an option premium of $300 for the put option, which gives Oil Products the option to sell 4,000 barrels of fuel oil at a strike price of $60 per gallon. The option expires on March 1,2026. The following data are available with respect to the values of the fuel of inventory and the put option. Indicate the amount(s) reported on the balance sheet and income statement related to the fuel oil and the put option on December 31, 2025. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)