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

January 20	Purchased Johnson & Johnson bonds for $25,000.
February 9	Purchased Sony notes for $59,490.
June 12	Purchased Mattel bonds for $45,000.
December 31	Fair values for debt in the portfolio are Johnson & Johnson, $26,900; Sony, $49,050 and Mattel, $55,950.

Year 2

April 15	Sold all of the Johnson & Johnson bonds for $28,000.
July 5	Sold all of the Mattel bonds for $39,000.
July 22	Purchased Sara Lee notes for $17,100.
August 19	Purchased Kodak bonds for $18,450.
December 31	Fair values for debt in the portfolio are Kodak, $18,900 Sara Lee, $16,500 and Sony, $63,000.

Year 3

February 27	Purchased Microsoft bonds for $161,000.
June 21	Sold all of the Sony notes for $61,200.
June 30	Purchased Black & Decker bonds for $54,900.
August 3	Sold all of the Sara Lee notes for $13,800.
November 1	Sold all of the Kodak bonds for $23,400.
December 31	Fair values for debt in the portfolio are Black & Decker, $57,300 and Microsoft, $159,500.

3. Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale debt securities at each year-end. (Losses should be indicated by a minus sign.)

	year1	year2	year3
Realized gains(losses)
sale of johnson & johnson
sale of Mattel
sale of sony
sale of Sara lee
sale of kodak
total realized gains(losses)
unrealized gains(losses) at year end