Trombly purchased 10% of ABC stock for $100,000 on 1/1/17. Data regarding these securities follow:

For the Year Ended	Market Value
December 31, 2017	$109,000
December 31, 2018	89,000
December 31, 2019	94,000

Assume that Trombly erroneously accounted for these equity securities as if they were Available for Sale bonds since their purchase. Net Income for 2019 will be:

Select one:

a. $ 6,000 understated

b. $15,000 overstated

c. $5,000 understated

d. $6,000 overstated

e. $5,000 overstated