Accounting for Marketable Debt Securities Tim Propp, CFO of Thunderbird, Inc., invested some of the firm's excess cash in the debt of three companies. At year-end, he reviewed how the portfolio of se Fair Value Security Name Cost Basis at Year-End Classification Microsoft Trading Corporation $100,000 $134,200 security Trading Pfizer, Inc. 75,000 80,300 security Available-for- Boeing, Inc. 50,000 52,800 sale security $225,000 $267.300 Required 1. Calculate the value that would be assigned to the portfolio of securities on Thunderbird's balance sheet at year-end. $ 2. Calculate the income statement effect of the portfolio of securities at year-end. 3. Calculate the income statement effect of the portfolio of securities at year-end assuming all securities are classified as available-for-sale. $ 4. Are the company's reported earnings impacted by whether the portfolio of securities are classified as trading versus available-for-sale? Will the company's share price be impacted by the particular classification adopted? Will the company's income taxes be impacted