please help solve this problem. thank you.

Presented below is information related to the purchases of common stock by Marin Company during 2020. Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock Cost (at purchase date) $90,000 229,000 Fair Value (at December 31) $70.000 275,000 183,000 193,000 Total $502,000 $538,000 In addition, assume that the investment in the Woods Inc. stock was sold during 2021 for $200,000. At December 31, 2021, the following information relates to its two remaining investments of common stock. Investment in Arroyo Company stock Investment in Lee Corporation stock Cost Fair Value (at purchase date) (at December 31) $90,000 $132,000 229.000 285,000 $319,000 $417,000 Total Net income before any security gains and losses for 2021 was $891,000. Net income before any security gains and losses for 2021 was $891,000. (a) Compute the amount of net income or net loss that Marin should report for 2021, taking into consideration Marin's security transactions for 2021, assuming Marin did not select the fair value option for investments in the Lee and Woods corporations, Net income or net loss that Marin should report for 2021 $ (b) Prepare the journal entry to record unrealized gain or loss related to the investment in Arroyo Company stock at December 31, 2021. Marin Company has opted to use the fair value option for its stock investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Dec 31, 2021