Balance Sheet Presentation of Available-for-Sale Investments During Year 1, its first year of operations, Galileo Company purchased two available-for-sale investments as follows: Security Shares Purchased cost Hawking Inc. $45,760 880 2,380 Pavlov Co. 64,498 Assume that as of December 31, Year 1, the Hawking Inc. stock had a market value of $62 per share and the Pavlov Co. stock had a market value of $49 per share. Galileo Company had net income of $353,900 and paid no dividends for the year ending December 31, Year 1. All of the available-for-sale investments are classified as current assets. a. Prepare the Current Assets section of the balance sheet presentation for the available-for-sale investments. Galileo Company Balance Sheet (selected items) December 31, Year 1 Assets Current Assets: Available-for-Sale Investments, at Cost Plus Unrealized Gain (Loss) on Available-for-Sale Investments b. Prepare the Stockholders' Equity section of the balance sheet to reflect the earnings and unrealized gain (loss) for the available-for-sale investments. Galileo Company Balance Sheet (selected Stockholders' Equity items) December 31, Year 1 Stockholders' Equity Retained Earnings Unrealized Gain (Loss) on Available-for-Sale Investments le Investments &