On October 17, 1999, Strong Company purchased the following common stocks (all trading securities) at the indicated per share prices that included commissions:

On December 31, 1999, the market prices per share of the above common stocks were \(\mathrm{X}\), \(\$ 223.20\); Y, \$136.80; and Z, \$54.
Summarized, the cash dividends per share received in 2000 were \(\mathrm{X}, \$ 14.40 ; \mathrm{Y}, \$ 7.20\); and \(\mathrm{Z}, \$ 5.40\).
On December 31,2000 , the per share market prices were \(\mathrm{X}, \$ 252.80 ; \mathrm{Y}, \$ 115.20\); and \(\mathrm{Z}, \$ 72\).
All of these changes in market prices are considered temporary.

a. Prepare journal entries for all of these transactions, including calendar year-end adjusting entries, assuming the shares of common stock acquired are considered trading securities.

b. If the securities acquired are considered available-for-sale securities, how would the entries made in a differ?

c. For both parts \(\mathbf{a}\) and \(\mathbf{b}\), give the descriptions (titles) and the dollar amounts of the items that would appear in the income statements for 1999 and 2000.

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600 shares of X Company common stock @ $216 1,000 shares of Y Company common stock @ $144 1,600 shares of Z Company common stock @ $72 $129,600 144,000 115,200 $388,800