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 Hawking Inc. Pavlov Co. Assume that as of December 31, Year 1, the Co. stock had a market va the year ending December 31, Year 1. All of the available-for-sale investments are classified as Shares Purchased 620 1,680 Cost $22,754 32,088 Havking Inc. stock had a market value of $44 per share and the Pavov lue of $34 per share. Galileo Company had net income of $176,000 and paid no dividends for 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 Valuation Allowance for Available-for-Sale Investments 54.842 b. Prepare the Stockholders' Equity section of the balance sheet to refilect the earnings and the available-for-sale investments Galileo Company Balance Sheet (selected Stockholders' Equity items) December 31, Year 1 Stockholdears Equity Retained Earnings Unrealized Gain (Loss) on Available-for-Sale Investments