Exercise 12-18 (Algo) Equity investments; fair value through net income [LO12-5] The investments of Harlon Enterprises included the following cost and fair value amounts ($ in millions): Equity Investments A Corporation shares B Corporation shares C Corporation shares D Industries shares Totals Cost $ 28 43 19 49 $139 Fair Value, Dec. 31 2021 2022 $ 18 N/A 43 $ 45 N/A 18 50 54 $ 111 $ 117 Harlon accounts for its equity investment portfolio at fair value through net income. Harlon sold its holdings of A Corporation shares on June 1, 2022, for $19 million. On September 12, it purchased the C Corporation shares. Required: 1. What is the effect of the sale of the A Corporation shares and the purchase of the C Corporation shares on Harlon's 2022 pretax earnings? 2. At what amount should Harlon's securities equity investment portfolio be reported in its 2022 balance sheet? 28-18- 0 For all requirements, enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) TO Raruese million 9 117 Fair value Add Bol 10/31/21 #10 Abmes needed Amount million