Balance Sheet Presentation, Trading Investments

The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:

Delta-tec Inc.
Income Statement (selected items)
For the Year Ended December 31, Year 2
Income from operations	$299,700
Gain on sale of investments	17,800
Unrealized loss on trading investments	(72,500)
Net income	$245,000

The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $825,000. During Year 2, the company purchased trading investments for the first time at a cost of $346,000. In addition, trading investments with a cost of $66,000 were sold at a gain during Year 2. The company paid $65,000 in dividends during Year 2.

a. Determine the December 31, Year 2, Retained Earnings balance. $fill in the blank d352c208f047048_1

b. Provide the December 31, Year 2, balance sheet presentation for Trading Investments.

Delta-tec Inc. Balance Sheet Disclosure for Trading Investments For December 31, Year 2

Dividend RevenueIncome from OperationsTrading Investments (at Cost)Unrealized Loss on Trading InvestmentsValuation Allowance for Trading Investments	$- Select -
Less Cash DividendsLess Income from OperationsLess Unrealized Loss on Trading InvestmentsLess Valuation Allowance for Trading InvestmentsLess Trading Investments (at Fair Value)	- Select -
Gain on Sale of InvestmentsUnrealized Gain on Trading InvestmentsUnrealized Loss on Trading InvestmentsValuation Allowance for Trading InvestmentsTrading Investments (at Fair Value)	$- Select -