On September 12, 2022, PNC Bank purchased 14,000 shares of Microsoft stock for $267 per share and classified the investment as TRADING. On September 30, 2022, Microsoft stock was trading at $233 per share, and on October 31 , 2022 , Microsoft stock was trading at $230 per share. 1. The Investment in Microsoft will be shown on PNC Bank's September 30, 2022 Balance Sheets for: a. $3,220,000 b. $3,262,000 c. $3,500,000 d. $3,738,000 2. The Unrealized Gain or Unrealized Loss on this trading investment will be shown on PNC Bank's September 2022 Income Statement for: a. $476,000 unrealized loss b. $518,000 unrealized gain c. $238,000 unrealized gain d. $42,000 unrealized loss 3. Which of the following is TRUE about investments categorized as trading securities? a. They are purchased to be held to maturity. b. They are valued on the balance sheet at cost. c. They can consist of debt, but not equity, securities. d. Changes in their market value are reflected in net income