On December 31, 2021, the end of its first year of operations, Pharoah Associates owned the following securities that are held as long-term investments. Common Stock Shares Cost C Co. 960 $45,120 D Co. 4,740 36,498 E Co. 1.245 27,390 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2022, the following transactions occurred. July 1 Received $2.00 per share semiannual cash dividend on D Co.common stock. Aug. 1 Received $0.50 per share cash dividend on C Co. common stock. Sept. 1 Sold 950 shares of D Co.common stock for cash at $9 per share. Oct. 1 Sold 312 shares of C Co. common stock for cash at $58 per share. Nov. 1 Received $1 per share cash dividend on E Co. common stock. Dec. 15 Received $0.50 per share cash dividend on C Co.common stock. 31 Received $2.20 per share semiannual cash dividend on D Co.common stock. At December 31, the fair values per share of the common stocks were C Co. $46, D Co. $7.50, and E Co. $26. These investments should be classified as long-term. Show the balance sheet presentation of the investments at 2022. These investments should be classified as long-term. Pharoah Associates (Partial) Balance Sheet December 31, 2022 Current Assets $ e Textbook and Media List of Accounts