Mead Inc. began operations in Year 1, following is a series of transactions and events involving its long-term debt investments in available-for-sale securities.

CHART IS CUT OFF BUT LAST COLUMN SAYS $0 AND IS FOR THE THIRD YEAR Year 1

Jan.		20		Purchased Johnson & Johnson bonds for $25,500.
Feb.		9		Purchased notes of Sony for $59,940.
June		12		Purchased bonds of Mattel for $45,500.
Dec.		31		Fair values for debt in the portfolio are Johnson & Johnson, $29,500; Sony, $49,350 and Mattel, $54,750.

Year 2

Apr.		15		Sold all of the bonds of Johnson & Johnson for $28,500.
July		5		Sold all of the bonds of Mattel for $39,350.
July		22		Purchased notes of Sara Lee for $15,500.
Aug.		19		Purchased bonds of Kodak for $18,800.
Dec.		31		Fair values for debt in the portfolio are Kodak, $19,075 Sara Lee, $17,000 and Sony, $62,000.

Year 3

Feb.		27		Purchased bonds of Microsoft for $159,800.
June		21		Sold all of the notes of Sony for $61,600.
June		30		Purchased bonds of Black & Decker for $55,400.
Aug.		3		Sold all of the notes of Sara Lee for $14,250.
Nov.		1		Sold all of the bonds of Kodak for $23,725.
Dec.		31		Fair values for debt in the portfolio are Black & Decker, $57,600 and Microsoft, $159,600.

2. Complete the following table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the portfolio of long-term available-for-sale debt securities at each year-end. (Loss amounts should be indicated with a minus sign.)

11111 TUI TUIULJ TUI ULUL IIl Lile purLTUITU die Kodak, $19,675; Sara Year 3 Feb. 27 Purchased bonds of Microsoft for $159,800. June 21 Sold all of the notes of Sony for $61,600. June 30 Purchased bonds of Black & Decker for $55,400. Aug. 3 Sold all of the notes of Sara Lee for $14,250. Nov. 1 Sold all of the bonds of Kodak for $23,725. Dec. 31 Fair values for debt in the portfolio are Black & Decker, $57,6 oblem 15-2A Part 2 Complete the following table that summarizes the (a) total cost, (b) total fair valu long-term available-for-sale debt securities at each year-end. (Loss amounts st Debt Investments 12/31/Yr. 1 12/31/Yr. 2 12/31/4 Long-Term AFS Securities (cost) Fair value adjustment-AFS Long-Term AFS Securities (Fair value) BE