3 Required information Use the following information for the Exercises below. (Algo) 33 The following information applies to the questions displayed below) Brooks Company purchases debt investments as trading securities at a cost of $60,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $68.000 Exercise 15-3 (Algo) Financial statement impact of trading securities LO P1 Brooks ses a portion of its trading securities (costing $30,000) for $32,000 cash Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or- for each transaction T 3 Check my work Equity Required information i Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Brooks Company purchases debt investments as trading securities at a cost of $60,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $68,000 Exercise 15-3 (Algo) Financial statement impact of trading securities LO P1 Brooks sells a portion of its trading securities (costing $30,000) for $32,000 cash. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1 2 Nnn Assets = Liabilities + Equity