Cost U reported at December 31, 2017 and 2018 P17-19 (LO2,4) (Equity Securities-Statement Presentation) Fernandez Corp. invested its excess cash in securities during T. As of December 31, 2017, 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 40,000 42,000 Arnold Aircraft 2,000 shares 72.000 60.000 Totals $127,000 $123,000 Instructions (a) What should be reported on Fornandez's December 31, 2017, balance sheet relative to these securities? What should be reported on Fernandez's 2017 income statement? On December 31, 2018. Fernandez's securities portfolio consisted of the following common stocks, Security Quantity Fair Value Lindsay Jones, Inc. 1,000 shares $15.000 $20,000 Lindsay Jones, Inc. 2,000 shares 33.000 40,000 Duff Company 1,000 shares 16,000 12,000 Arnold Aircraft 2,000 shares 72,000 22,000 Totals $136,000 $94.000 During the year 2018, Fernandez Corp. sold 2,000 shares of Poley Corp. for $38,200 and purchased 2,000 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company. (b) What should be reported on Fernandez's December 31, 2018, balance sheet? What should be reported on Fernandez's 2018 income statement? On December 31, 2019, Fernandez's securities portfolio consisted of the following common stocks. Security Quantity Cost Fair Value Arnold Aircraft 2,000 shares $72,000 $82,000 Duff Company 500 shares 8,000 6,000 Totals $80,000 $88,000 960 Chapter 17 Investments During the year 2019, Fernandez Corp. sold 3,000 shares of Lindsay Jones, Inc. for $39,900 and 500 shares of Duff Com- pany at a loss of $2,700. (c) What should be reported on the face of Fernandez's December 31, 2019, balance sheet? What should be reported on Fernandez's 2019 income statement