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. 980 $56,840 Pavlov Co. 2,660 80,332 Assume that as of December 31, Year 1, the Hawking Inc. stock had a market value of $69 per share and the Pavlov Co. stock had a market value of $55 per share. Galileo Company had net income of $440,300 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: 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