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Current Attempt in Progress Presented below is information related to the purchases of common stock by Thomlin Company during 2020 Cost (at purchase date) Fair Value (at December 31) $221.000 Investment in Azul Company stock Investment in Justin Corporation stock Investment in Tiger Inc. stock $200,000 271.000 285.000 185.000 260,000 Total sold $656,000 $766,000 pas In addition, assume that the investment in the Tiger Inc. stock was sold during 2021 for $278,000. At December 31, 2021, the following information relates to its two remaining investments of common stock. Cost (at purchase date) $200,000 Fair Value (at December 31) Investment in Azul Company stock Investment in Justin Corporation stock $195,000 271.000 290,000 Total $471,000 $485.000 485 471 touu Net income before any security gains and losses for 2021 was $1.200.000, (a) Compute the amount of net income or net loss that Thomlin should report for 2021, taking into consideration Thomlin's security transactions for 2021 Net income or net loss that Thomlin should report for 2021 $ (b) Prepare the journal entry to record unrealized gain or loss related to the investment in Azul Company