In January 2023, Haddock Ltd. had purchased an investment for $150,000. By December 31, 2023, the fair market value of that investment had increased by $20,000. Assuming this gain was included in the company's 2023 net income, which accounting method did Haddock use to account for this investment?
a. cost
b. equity
c. fair value through other comprehensive income (FV-CCI)
d. fair value through net income (FV-NI)