Mead Incorporated began operations in Year 1. Following is a series of transactions and events involving its iong-term debt investments in available-for-sale securities. Year 1 January 20 Purchased Johnson \& Johnson bonds for $24,500. February 9 Purchased Sony notes for $59,040. June 12 Purchased Mattel bonds for $44,500. December 31 Fair volues for debt in the portfolio are Johnson & Johnson, $26,300; Sony, $49,750; and Matte1, $54,550. Year 2 April 15 Sold all of the Johnson 8 Johnson bonds for $27,500. July 5 sold all of the Mattel bonds for $38,650. July 22 Purchased Sara Lee notes for $16,700. August 19 purchased Kodak bonds for $18,100. December 31 Fair values for debt in the portfolio are Kodak, \$18,725; \$ara Lee, \$16,000; and Sony, \$62,00e. Year 3 February 27 Purchased Microsoft bonds for $161,200. June 21 sold all of the Sany notes for $69,860. June 30 Purchased 8 lack 8 Decker bonds for $54,460. August 3 sold all of the Sara Lee notes for $13,350. November 1 sold all of the Kodok bonds for $23,075. December 31 fair values for debt in the portfolio are 81 ack 8 Decker, $57,690; and M1crosoft, $159,400. mplete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the lio of long-term available-for-sale debt securities at each year-end Losses should be indicated by a minus sign. January 28 Purchased Johnson 8 Johnson bonds for $24,500. February 9 Purchased Sony notes for $59, 649 . June 12 Purchased Mattel bords for 544,500. December 31 Fair values for debt in the portfolio are Johnson 8 Johnson, 526,300;50ny, 549,750; and Mattel, 554,550. Year 2 April 15 Sold all of the Johnson 8 Johnson bonds for $27,500. July 5 Sold all of the Mattel bonds for $38,650. July 22. Purchased Sara Lee notes for $16,700. August 19 Purchased kodak bonds for $18,100. December 31 Fair values for debt in the portfolio are Kodak, \$18,725; 5ara Lee, \$16, e9e; and 5ony, \$62, 60e. Year 3 February 27 Purchased Mierosoft bonds for $161,209. June 21 sold al1 of the Sony notes for $60,800. June 30 Purchased Black 8 Decker bonds for $54,400 August 3 sold a11 of the Sara lee notes for $13,350. November 1 sold all of the Kodak bonds for $23,075. December 31 Fair values for debt in the portfolio are black 8 becker, 557,690; and Microsoft, 5159,469. 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 avallable-for-sale debt securities at each year-end Note: Losses should be indicoted by a minus sign
