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Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary investments. The following transactions relating to these

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Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary investments. The following transactions relating to these investments occurred this year: Jan 15th -Bought 1,940 shares of IBM $120 March 1st- Bought $12,720 of GMC 6% bonds @ par March 20-IBM declares a $5/share dividend payable March 31. December 31-Market values of IBM shares are $130. Market value of GMC bonds are $14,000. Required 1: What is the amount reported as revenue from dividends in the annual Income Statement? $ Required 2: What is the amount reported as Interest Revenue in the annual Income Statement? $ Required 3: What is the amount reported as the ending balance of the account "IBM Shares" at year end in the Balance sheet? $ Required 4: What is the amount reported as the ending balance of the account "GMC Bonds" at year end in the Balance sheet? $

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