119/202) (Financial Statement Presentation of Equity Investments) Kennedy Company has kollowing portfolio of trading investments at December 31, 2019. Percent Per Share Quantity Interest Cost Market 2.000 shares 8% $11 $16 5,000 shares 14% 23 19 4,000 shares 2% 31 24 On December 31, 2020, Kennedy's portfolio of trading investments consisted of the following Investment Frank. Inc. Ellis Corp. Mendota Company investments. Percent Interest Investment Ellis Corp Mendota Company Mendota Company Quantity 5.000 shares 4,000 shares 2.000 shares 14% 2% 1% Per Share Cost Market $23 $28 31 23 25 23 At the end of year 2020, Kennedy Company changed the classification of its investment in Frank, Inc. to ton-trading when the shares were selling for $8 per share. Instructions 2 What should be reported on Kennedy's December 31, 2019, statement of financial position relative to these equity investments? 1. What should be reported on the face of Kennedy's December 31, 2020, statement of financial po- sition relative to the trading investments? What should be reported to reflect the transactions above in Kennedy's 2020 income statement? 11. inactment martfolio at