Equity and Available-for-Sale Investments

OBrien 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. $20,400 $18,600

Chadwick Co. 27,300 25,500

$47,700 $44,100

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

The following selected transactions occurred during 20Y5:

Jan. 2. Purchased $44,000 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 $27,000 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 $7,900 are received on the Jolly Roger Co. investment.

Dec. 31. Jolly Roger Co. reported a total net income of $73,000 for 20Y5, which OBrien 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. $18,700

Chadwick Co. 23,800

Gozar Inc. 46,000

Nightline Co. 26,460

For the year ending December 31, 20Y5, OBrien Industries Inc. reported net income of $148,400 and paid no dividends.

Required:

The comparative unclassified balance sheets for December 31, 20Y4 and 20Y5 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 20Y5 20Y4 Available-for-Sale Investments (at Cost) $47,700 Valuation Allowance for Available-for-Sale Investments (3,600) Available-for-Sale Investments (Fair Value) $44,100 Interest Receivable Investment in Jolly Roger Co. Stock $50,000 Office Equipment (Net) 83,000 87,400 Total Assets $416,300 Accounts Payable Common Stock $53,200 45,800 145,700 $47,900 45,800 145,700 Excess of Issue Price Over Par Retained Earnings 180,500 Unrealized Gain (Loss) on Available-for-Sale Investments (3,600) Total Liabilities and Stockholders' Equity $416,300