Under IFRS, at the end of the first year of operations, the total cost of the trading investments portfolio is $120,000. Total fair value is $115,000. The financial statement should show:

(a) a reduction in the carrying value of the asset of $5,000 and an unrealized loss of $5,000 in the income statement.

(b) a reduction in the carrying value of the asset of $5,000 and an unrealized loss of $5,000 in the stockholders’ equity section.

(c) a reduction in the carrying value of the asset of $5,000 in the current assets section and an unrealized loss of $5,000 in other comprehensive income.

(d) a reduction in the carrying value of the asset of $5,000 in the current assets section and a realized loss of $5,000 in other expenses and losses.