Equity and Available$-$for$-$Sale Investments

O$$Brien Industries Inc. is a book publisher.

The available$-$for$-$sale investments at cost and fair value on December $31,20$Y$4,$ are as follows:

Issuing Company Cost Fair Value

Bernard Co$.$ $$38,250$ $$37,500$

Chadwick Co$.65,52063,770$

$$103,770$ $$101,270$

The investment in Jolly Roger Co$.$ stock represents $30\%$ of the outstanding shares of Jolly Roger Co$.$

The following selected transactions occurred during $20$Y$5$:

Jan. $2.$ Purchased $$94,400$ of Gozar Inc. $5\%,10-$year bonds at $100.$ The bonds are classified as an available$-$for$-$sale investment. The bonds pay interest on June $30$ and December $31.$

June $30.$ Received interest for $6$ months on the Gozar Inc. bonds purchased on January $2.$

Oct. $1.$ Purchased $$40,000$ of Nightline Co$.6\%,10-$year bonds at $100.$ The bonds are classified as an available$-$for$-$sale investment. The bonds pay interest on October $1$ and April $1.$

$9.$ Dividends of $$12,500$ are received on the Jolly Roger Co$.$ investment.

Dec. $31.$ Jolly Roger Co$.$ reported a total net income of $$112,000$ for $20$Y$5,$ which O$$Brien Industries Inc. recorded using the equity method.

$31.$ Received interest for $6$ months on the Gozar Inc. bonds purchased on January $2.$

$31.$ Accrued $3$ months of interest on the Nightline bonds.

$31.$ Adjusted the available$-$for$-$sale investment portfolio to fair value, using the following fair values:

Issuing Company Fair Value

Bernard Co$.$ $$34,650$

Chadwick Co$.57,960$

Gozar Inc. $98,560$

Nightline Co$.39,200$

For the year ending December $31,20$Y$5,$ O$$Brien Industries Inc. reported net income of $$148,230$ and paid no dividends.

Required:

The comparative unclassified balance sheets for December $31,20$Y$4$ and $20$Y$5$ are provided below. Selected balances are missing. Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round interim calculations. Round final answers to nearest dollar.

O'Brien Industries Inc.

Partial Balance Sheets

December $31$

$20$Y$520$Y$4$

Available$-$for$-$Sale Investments $($at Cost$)$ $fill in the blank $1$

$$103,770$

Valuation Allowance for Available$-$for$-$Sale Investments fill in the blank $2$

$(2,500)$

Available$-$for$-$Sale Investments $($Fair Value$)$ $fill in the blank $3$

$$101,270$

Interest Receivable $fill in the blank $4$

Investment in Jolly Roger Co$.$ stock fill in the blank $5$

$$77,000$

Office Equipment $($Net$)115,000130,000$

Total Assets $fill in the blank $6$

$$666,270$

Accounts Payable $$69,400$ $$65,000$

Common Stock $70,00070,000$

Excess of Issue Price Over Par $225,000225,000$

Retained Earnings fill in the blank $7$

$308,770$

Unrealized Gain $($Loss$)$ on Available$-$for$-$Sale Investments fill in the blank $8$

$(2,500)$

Total Liabilities and Stockholders' Equity $fill in the blank $9$

$$666,270$