please answer all parts (:

Use the information below to answer parts a-c

Berry Company began operations in 2021 and reported the following marketable equity securities at December 31, 2021:

Marketable Equity Securities (MES) Cost Market

Cat Common $ 43,000 $ 42,500

Rhino Common 36,800 35,400

Leopard Common 76,200 74,200

Totals $156,000 $152,100

During 2022, Berry sold all of its marketable equity securities for $158,000 and acquired the common stock of Python and Rabbit. As of December 31, 2022, the cost and market values of Berrys marketable equity securities were:

Marketable Equity Securities Cost Market

Rabbit Common $ 43,800 $ 45,900

Python Common 89,200 90,100

Totals $133,000 $136,000

a. Which of the following statements is correct?

- An unrealized holding loss of $3,900 should be reported in net income for the year ended December 31, 2021.

- On the balance sheet at December 31, 2021, the marketable equity securities should be reported at $156,000.

- A and B.

- Neither A nor B.

b. Which of the following statements is correct?

- A realized gain of $5,900 should be reported as other income on the income statement for the year ended December 31, 2022.

- The balance in the account Fair Value Adjustment-MES at December 31, 2022, is a debit of $3,000.

- A and B.

- Neither A nor B.

c. Which of the following statements is correct?

- An unrealized holding gain of $6,900 is reported as other income on the income statement for the year ended December 31, 2022.

- A reclassification adjustment of $2,000 is reported in other comprehensive income for 2022.

- A and B.

- Neither A nor B.