A company has the following investment activity Investments in Trading and AFS Securities during 2016 and 2017: P1.1 Selling Security Type Acquisition Cost 12/31/16Sale Price Fair value at 12/31/17 Date of Fair value at Date of Trading 3/5/16 $350,000 400,000 175,000 11/20/16 300,000 4/6/17 710,000 N/A NVA $410,000 NVA 215,000 690,000 A. N/A 6/3/16 $325,000 N/A NA 190,000 Trading9/1/17 N/A . AFS 8/2/16 4/2/17 213,000 N/A N/A 250,000 AFS AFS N/A N/A N/A Security E is impaired in 2017, but is not impaired in 2016. Security F is not impaired in 2017. Required a. Prepare the journal entries to record the above infonnation for 2016 and 2017.assuming the company's reporting year ends December 31 b. Show how this information is presented in the company's balance sheet, income statement, and statement of comprehensive income for 2016 and 2017