Exercise 17-9 (Part Level Submission)

At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc. is as follows.

Security

Cost

Fair Value

Unrealized

Gain (Loss)

A$21,875$18,750$(3,125)B15,62517,5001,875C28,75031,8753,125Total$66,250$68,1251,875Previous fair value adjustment balanceDr.500Fair value adjustmentDr.$1,375

On January 20, 2018, Skysong, Inc. sold security A for $18,875. The sale proceeds are net of brokerage fees.Show the balance sheet presentation of the investment-related accounts at December 31, 2017.(Do not leave any answer field blank. Enter 0 for amounts.)

SKYSONG, INC

Balance Sheet

December 31, 2017

For the Year Ended December 31, 2017

For the Quarter Ended December 31, 2017