For each case involving marketable equity securities describe how the information provided affects the classification, carrying value, and income reported for that company's investment securities.

Case 1:

A noncurrent portfolio of available-for-sale equity securities with an aggregate market value in excess of cost; includes one particular security whose market value has declined to less than one-half of the original cost.

Case 2:

The balance sheet of a company does not classify assets and liabilities as current and noncurrent. The port- folio of available-for-sale equity securities includes securities normally considered current that have a net cost in excess of market value of $2,000. The remainder of the portfolio has a net market value in excess of cost of $5,000.