Available-for-Sale Securities The MacGregor Company has a portfolio of securities identical to that of the McMillan Company (see Exercise 11-27). However, MacGregor classified the portfolio as available-for-sale securities. The portfolio cost $160 million on January 1. The market values of the portfolio were ($ in millions): March 31, $150; June 30, $140; September 30, $152; and December 31, $160. 1. Prepare a tabulation showing the balance sheet presentations and income statement presentations for interim reporting purposes. 2. Show the journal entries for quarters 1, 2, 3, and 4.