Journal entries and financial statement presentation of long-term securities available for sale. The following information summarizes data about Rice Corporation's investments in equity securities held as noncurrent assets and as Securities Available for Sale.

Date Acquired Acquisition Cost Date Sold Selling Price Market Value Security Dec. 31, Year 1 Dec. 31, Year 2 A

3/5Aear 1 $40,000 10/5/Year 2 $52,000 $45,000

—

B 5/12/Year 1 80,000 70,000

$83 000 C 3/22/Year 2 32,000 — — 27,000 D

5/25/Year 2 17,000 10/5/Year 2 16,000 - -

E 5/25Aear 2 63,000 — — — 67,000

a. Give all journal entries relating to these equity securities during Year 1 and Year 2, assuming that the accounting period is the calendar year.

b. Provide a suitable presentation of investments in securities in the balance sheet and related notes on December 3 1 , Year 1 .

c. Provide a suitable presentation of investments in securities in the balance sheet and related notes on December 3 1 , Year 2.