Northern Corporation, the investment banking company, often has extra cash to invest. Suppose Northern buys 400 shares of Andy, Inc., stock at $55 share. Assume Northern expects to hold the stock for one month and then sell it. The purchase occurs on December 15, 2013. At December 31, 2013, the market price of Andy stock is $66 per share. Northern Corporation sells 400 shares of Andy Inc. on January 15, 2014 for $63 per share. Required: 1. What type of investment is this to Northern? Give the reason for your answer. 2. Record all journal entries related to Northern's investment in the Andy Inc. stock for years 2013 and 2014. Show how Northern would report this investment on its balance sheet at December 31, 2013 and any gain or loss on its income statement for the year ended December 31, 2013. On Balance sheet: On Income Statement