1) Describe the similarity between the reporting of the two classifications and, 2) Describe the differences in reporting between the two classifications. 3) Using what you learned from the first to requirements solve the following SunTrust Banks, Inc problem. Application of Statement No. 115 for Investments in Marketable Equity Securities. SunTrust Banks, Inc., owns a large block of The Coca-Cola Company (Coke) common stock that it has held for many years. SunTrust indicates in a note to its financial statements that all equity securities held by the bank, including its investment in Coke stock, are classified as available for sale. In its 2006 Form 10-K, SunTrust reports the following information for its Coke investment (amounts in thousands): REQUIRED a. Calculate the effect of the change in the market value of SunTrust's investment in Coke's common stock on SunTrust's 2006 (1) net income and (2) shareholders' equity. Ignore taxes. b. How would your answer to Requirement a differ if SunTrust classified its investment in Coke's common stock as a trading security? c. Does the value reported on SunTrust's balance sheet for the investment in Coke's stock differ depending on the firm's reason for holding the stock (that is, whether it is classified as available for sale versus trading by management)? Explain