Wharton, Incorporated, pays income taxes on gains on marketable securities at a rate of 30 percent. At December 31, year 1, the company owns marketable securities that cost $180,000 but have a current market value of $220,000. Required: b. As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments? c. Prepare a journal entry at January 4, year 2, to record the cash sale of these investments at $250,000. d. What effect will the sale recorded in part c have on Wharton's tax obligation for year 2? Complete this question by entering your answers in the tabs below. Required C As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments? Income taxes paid on the increase in the securities' value wwwww Required B Required D Required B Required C >