Buffalo Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the securities portfolio consisted of the following common stocks.

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Current Attempt in Progress Buffalo Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the securities portfolio consisted of the following common stocks. Security Quantity Cost Fair Value Lindsay Jones, Inc. 1,000 shares $15,000 $21,000 Poley Corp 2,000 shares 39,900 41,900 Arnold Aircraft 2.000 shares 71,600 59,700 Totals $126,500 $122,600 (a) Your answer is correct. What should be reported on Buffalo's December 31, 2020, balance sheet relative to these securities? What should be reported on Buffalo's 2020 income statement? Of no entry is required, select "No Entry for the account titles and enter for the amounts.) Buffalo Corp. Balance Sheet (Partial) December 31, 2020 Current Asus Equity Investments 122600 Income Statement For the Year Ended December 31, 2020 Other Expenses and Losses Unrealed Holding Gain or Loss-Income 3900 1 Attempts: 1 of 3 used (b) Your answer is partially correct. On December 31, 2021, Buffalo's securities portfolio consisted of the following common stacks Security Quantity Cost Fair Value Lindsay Jones, Inc 1,000 shares $15.000 $20.100 Lindsay Jones, Inc 2.000 shares 33.300 40.200 16,000 12.100 Duff Company Arnold Aircraft 1,000 shares 2,000 shares 71,600 22.100 Totals $135.900 $94.500 During the year 2021, Buffalo Corp. sold 2,000 shares of Poley Corp.for $38,100 and purchased 2,000 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company What should be reported on Buffalo's December 31, 2021, balance sheet? What should be reported on Buffalo's 2021 income statement? Of no entry is required, select "No Entry for the account titles and enter for the amounts.) Buffalo Corp. Balance Sheet (Partial) December 31, 2021 Current Assets Equity Investments 94500 Buffalo Corp. Income Statement (Partial) For the Year Ended December 31, 2021 Other Expenses and Losses Unrealized Holding Gain or Loss-Income 27500 Loss on Sale of investments 2100 Save for Later Attempts: 2 of 3 used Submit