ABS Corporation's statement of cash flows for 2018 shows the following information regarding investing activities: Purchases of marketable securities $(1,518,000) Proceeds from sale of marketable securities 811,000 Proceeds from sale of land 425,000 Net cash used by investing activities $ (282,000) ABS Corporation's income statement for 2018 includes the following items: Loss on sale of marketable securities $157,000 Gain on sales of land $179,000

I. All payments and proceeds relating to these transactions were in cash. Using this information, compute the following: (1) Cost of the land sold during 2018 (2) Cost (book value) of marketable securities sold during 2018

II. ABS Corporation's balance sheet at the end of 2017 showed Land of $3,057,000 and Investment in Marketable Securities of $2,218,000. On the basis of the data presented above, compute the amount to be reported for Land and for Investment in Marketable Securities on Underhill Corporation's balance sheet at December 31, 2018. (1) Balance in Land account at December 31, 2018: $________ (2) securities account at December 31, 2018: