(c) Your answer is partially correct. Try again. Show the balance sheet presentation of the investments at 2019. These investments should be classified as long-term. At this date, Cullumber Associates has common stock $2,175,000 and retained earnings $1,308,000. Cullumber Associates (Partial) Balance Sheet December 31, 2019 Investments Stock Investments Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity 84017 Problem H-3 (Part Level Submission) On December 31, 2018, the end of its first year of operations, Cullumber Associates owned the following securities that are held as long-term investments. Common Stock Shares Cost C Co. 960 $44,160 D Co. E Co. 5,110 1,085 36,792 22,785 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2019, the following transactions occurred. July Aug. 1 Sept. 1 Oct. 1 Nov. 1 Dec. 15 1 Received $2 per share semiannual cash dividend on D Co. common stock. Received $0.50 per share cash dividend on C Co. common stock. Sold 950 shares of D Co. common stock for cash at $9 per share. Sold 280 shares of C Co. common stock for cash at $55 per share. Received $1 per share cash dividend on E Co. common stock. Received $0.50 per share cash dividend on C Co. common stock. Received $2.10 per share semiannual cash dividend on D Co. common stock. 31 At December 31, the fair values per share of the common stocks were C Co. $45, D Co. $7.00, and E Co. $25. These investments should be classified as long-term