On January 1, 2015, Sturge Enterprises Inc. held the following debt and equity investments:

During the year, Sturge made the following purchases:

There were no differences between cost and fair value at January 1, 2015. The market prices of the various securities at year end, December 31, 2015, were as follows: Ajax shares $6; Beta shares $9; and Citrus bonds $107 (this means 107% of maturity value).
Instructions
(a) Calculate the cost and fair value of Sturge Enterprises' investment portfolio at December 31.
(b) If Sturge Enterprises considers its entire portfolio to be trading investments and uses the fair value through profit or loss model, at what value should these investments be reported on the statement of financial position at December 31?
At what amount, and where, should any unrealized gains or losses be reported?
(c) If Sturge Enterprises intends to hold the Citrus bonds until they mature and uses the amortized cost model, at what value should these bonds be reported on the statement of financial position at December 31? At what amount, and where, should any unrealized gains or losses on the bonds be reported?
(d) If all of the investments held by Sturge Enterprises related to private companies and no fair value information related to these securities could be obtained, what would be the impact on the income statement and on the statement of financial position?

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Security Ajax Ltd. shares Beta Corp. shares Quantity 1,500 2,000 Cost per Unit $12 Security Ajax Ltd. shares Ajax Ltd. shares Ajax Ltd. shares Beta Corp. shares Citrus Inc. bonds Quantity 1,200 1,000 1,000 500 300 Cost per Unit $ 11 10 100 9