During 2017, Turnball Associates had the following investment related transactions: 1. Purchased 2,000 shares of Gehring common stock for $29 per share cash plus $2,000 of brokers fees. 2. Purchased 5,000 shares of Wooderson common stock for $9 per share cash. 3. Received a $.50 per share cash dividend on the Gehring common stock. 4. Sold 1,500 shares of Wooderson common stock for $8 per share cash less $200 brokers fees. 5. Sold 800 shares of Gehring common stock for $33 per share cash less $500 brokers fees. 6. Purchased 1,500 shares of Kitselton common stock for $20 per share cash. 7. Received a $.50 per share cash dividend on the Gehring common stock. 8. Received a $1 per share cash dividend on the Wooderson common stock. 9. On December 31, the fair market values of the stocks were: Gehring $32 per share, Wooderson $8 per share and Kitselton $18 per share. Instructions (a) Journalize the transactions assuming the investment in the Escalante stock was purchased as trading securities. (b) Indicate the financial statement presentation of the investment related accounts at the end of the year. (c) If the investment in the Escalante stock had been purchased as available for sale securities, indicate the financial statement presentation of the investment related accounts at the end of the year.