On January 1, Black Company's valuation allowance for Trading investment account had a credit balance of $22,500. On December 31, the cost of the trading securities portfolio is $100,000. The fair value is $80,000. Which of the following would Black report?a. an Unrealized Gain on Trading Investments of $18,000.
b. an Unrealized Loss on Trading Investments of $4,500.
c. an Unrealized Gain on Trading Investments of $4,500.
d. an Unrealized Loss on Trading Investments of $18,000.
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