. M As financial reporting advisors, we are asked by the head of Sterling Co. to advise in accounting for stock investments. This is the first year Sterling had extra cash to invest in stock investments, and it purchased 1,000 shares of LDX for $52.90 on January 1 of this year. The Tableau Dashboard is provided to alid us in our analysis. Select Industry-A __C__ Dividend Select Industry per directions alue of Stock Investments Portfolio Fair Value January 1 _F___G____H_ +ableau Dividend December 31 ank j nors Required 1 Required 2 Required 3 For Industry G, prepare Sterling's December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value. Important! Be sure to click the correct Industry at the top of the dashboard. View transaction list Journal entry worksheet Record the year-end adjusting entry to report its stock investments with insignificant influence at fair value. Note: Enter debits before credita Date Dec. 31 * Record entry General Journal Clear entry Debit Credit View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 After the fair value adjustment is made, for Industry G prepare the assets section of Sterling's December 31 year-end classified balance sheet. Assume Sterling plans to sell its stock investments with insignificant influence within the next two months of the upcoming year. Important! Be sure to click the correct Industry at the top of the dashboard. STERLING CO. Assets Section of Balance Sheet December 31 Assets < Required 1 Required 3 > January 1 +ableaut Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Question In which income statement section is the unrealized gain or loss on the portfolio of stock investments with insignificant influence reported? < Required 2 Requind 39 December 31 Answer ped ook int ences As financial reporting advisors, we are asked by the head of Sterling Co. to advise in accounting for stock investments. This is the first year Sterling had extra cash to invest in stock investments, and it purchased 1,000 shares of LDX for $52.90 on January 1 of this year. The Tableau Dashboard is provided to aid us in our analysis. Select Industry- A B Fair Value of Stock Investments Portfolio Dividend Fair Value $65,000 $60,000 $55,000 $50,000 $45,000 January 1 +ableau Complete this question by entering your answers in the tabs below. Dividend December 31 KH