3. Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end. (Do not round your intermediate calculations. Losses should be indicated by a minus sign.) 2018 2019 Realized Gains (Losses) 2017 Sale of Johnson & Johnson shares Sale of Mattel shares Sale of Sara Lee shares Sale of Sony shares Sale of Eastman Kodak shares Realized Gains (Losses) 2018 2019 Unrealized Gains (Losses) 2017 Balance in the Fair Value Adjustment AFS account Beginning of year - Debit (Credit) Required balance - End of year Debit (Credit) Required adjustment Unrealized Gain (Loss) Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity. 2017 Jan. 20 Purchased 1,300 shares of Johnson & Johnson at $20.80 per share plus a $270 commission. Feb. 9 Purchased 1,500 shares of Sony at $46.50 per share plus a $255 commission. June 12 Purchased 1,800 shares of Mattel at $27.30 per share plus a $225 commission. Dec. 31 Per share fair values for stocks in the portfolio are Johnson & Johnson, $21.80; Mattel, $31.20; and Sony, $38.30. 2018 Apr. 15 Sold 1,300 shares of Johnson & Johnson at $23.80 per share less a $555 commission. July 5 Sold 1,800 shares of Mattel at $24.20 per share less a $265 commission. July 22 Purchased 900 shares of Sara Lee at $22.80 per share plus a $510 commission. Aug. 19 Purchased 1,200 shares of Eastman Kodak at $17.30 per share plus a $228 commission. Dec. 31 Per share fair values for stocks in the portfolio are: Kodak, $19.55; Sara Lee, $20.30; and Sony, $35.30. 2019 Feb. 27 Purchased 2,700 shares of Microsoft at $67.30 per share plus a $555 commission. June 21 Sold 1,500 shares of Sony at $48.30 per share less a(n) $910 commission. June 30 Purchased 1,700 shares of Black & Decker at $36.30 per share plus a $40 Aug. 3 Sold 900 shares of Sara Lee at $16.55 per share less a $465 commission. Nov. 1 Sold 1,200 shares of Eastman Kodak at $23.05 per share less a(n) $655 commission. Dec. 31 Per share fair values for stocks in the portfolio are: Black & Decker, $39.30; and Microsoft, $69.30. 2. Complete the following table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the portfolio of long-term available-for-sale securities at each year-end. (Do not round your intermediate calculations. Loss amounts should be indicated with a minus sign.) Fair Value Adjustment Computation - AFS Long-term portfolio December 31, 2017 Number of Shares Share Price at 12/31/17 Fair Value Cost Unrealized Gain (Loss) Johnson & Johnson Sony Mattel $ $ $ 21.80 38.30 31.20 Total $ 0 $ 0 December 31, 2018 Number of Share Price Shares at 12/31/18 Fair Value Cost Unrealized Gain (Loss) Kodak Sara Lee $ $ $ 19.55 20.30 35.30 Sony Total $ 0 $ 0 December 31, 2019 Number of Shares Share Price at 12/31/19 Fair Value Unrealized Gain (Loss) Black & Decker $ $ 39.30 69.30 Microsoft Total 0 $ 0 Total $ $ 2017 2018 2019 Balance Sheet Presentation: Long-Term AFS Securities (Cost) Fair Value Adjustment Long-Term AFS Securities (Fair Value) $ 0 $ 0 $ 0