Information related to Jones Company's portfolio of trading securities at December 31, 20X1, follows: Amortized cost of securities $340,000 Gross unrealized gains (cumulative) 8,000 Gross unrealized losses (cumulative) 52,000 Jones reported a $10,000 credit balance in its Fair value adjustment—trading securities account in its December 31, 20X0, balance sheet. Assume that it sold no trading securities during 20X1.Required: How much should Jones report as unrealized gain or loss on its 20X1 income statement? Prepare the journal entry that Jones would make to record the 20X1 fair value adjustment to its trading portfolio.