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, 20Y4, are as follows: Issuing Company Cost Fair Value Bernard Co. $24,000 $21,800 Chadwick Co. 25,900 24,200 $49,900 $46,000 The investment in Jolly Roger Co. stock represents 32% of the outstanding shares of Jolly Roger Co. The following selected transactions occurred during 20Y5: Jan. 2. June 30. Oct. 1. Purchased $50,400 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. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. Purchased $30,000 of Nightline Co. 5%, 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 $8,300 are received on the Jolly Roger Co. investment. Dec. 31. Jolly Roger Co. reported a total net income of $71,000 for 20Y5, 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. $21,600 Chadwick Co. 22,400 Gozar Inc. 53,200 Nightline Co. 29.400 For the year ending December 31, 20Y5, O'Brien Industries Inc. reported net income of $148,500 and paid no dividends.