Investment Reporting O'Brien Industries Inc. is a book publisher. Note 1. Investments are classified as available for sale. The investments at cost and fair value on December 31, Year 1, are as follows: Bernard Co. stock Chadwick Co. stock No. of Shares 1,800 900 Cost per Share $13 41 Total Cost $23,400 36,900 $60,300 Total Fair Value $21,300 34,500 $55,800 Note 2. The investment in Jolly Roger Co. stock is an equity method investment representing 30% of the outstanding shares of Jolly Roger Co. The following selected investment transactions occurred during Year 2: > Year 2 May 5. Oct. 1. Oct. 9. Dec. 31. Dec. 31. Purchased 2,100 shares of Gozar Inc. at $24 per share including brokerage commission. Gozar Inc. is classified as an available-for- sale security. Purchased $36,000 of Nightline Co. 5%, 10-year bonds at 100. The bonds are classified as available for sale. The bonds pay interest on October 1 and April 1.1 Dividends of $10,000 are received on the Jolly Roger Co. Investment. Jolly Roger Co. reported a total net income of $93,000 for Year 2. O'Brien Industries Inc. recorded equity earnings for its share of Jolly Roger Co. net income. Accrued three months of interest on the Nightline bonds.