Investment in Equity Securities with No Significant Influence

Investment in Equity Securities with No Significant Influence Zyggy Corporation invests

in the stock of other companies for trading purposes. Zyggy has the following investment

activity during $2018,2019,$ and $2020$:

Purchased stock of Allen Corporation on February $3,2018,$ for $$240,000.$ The investment

was sold on June $18,2018,$ for $$252,000.$

Purchased stock of Becker Corporation on October $29,2018,$ for $$480,000.$ The

investment had a fair value of $$456,000$ on December $31,2018,$ and was sold for

$$486,000$ on March $1,2019.$

Purchased stock of Corey Corporation on November $1,2018,$ for $$720,000.$ Its fair value

on December $31,2018$ and $2019$ was $$768,000$ and $$612,000,$ respectively. The

investment was sold for $$600,000$ on February $15,2020.$

Required

a$.$ At what amount is Zyggy$\text{'}$s investment in equity securities reported on its December $31,$

$2018,$ and $2019$ balance sheets? Required

a$.$ At what amount is Zyggy$\text{'}$s investment in equity securities reported on its December $31,$

$2018,$ and $2019$ balance sheets?

b$.$ What gains and losses are reported on Zyggy$\text{'}$s income statements for $2018,2019,$ and

$2020?$

Use a negative sign with answers to indicate a net loss, if applicable.