On December 31, Mars Co. had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Portfolio of Stock Investments Apple stock Chipotle stock Under Armour stock Cost $ 6,600 4,800 12,200 Fair Value $ 8,800 2,300 14,200 1. After the fair value adjustment is made, prepare the assets section of Mars Co.'s December 31 classified balance sheet. Assume Mars plans to sell its trading securities within the next six months. 2. In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? Required 1 Required 2 After the fair value adjustment is made, prepare the assets section of Mars Co.'s December 31 classified balance sheet. Assume Mars plans to sell its trading securities within the next six months. MARS CO. Assets Section of Balance Sheet December 31 Assets Required 1 Required 2 Required 1 Required 2 In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? Cost of goods sold Cost of sales Other Revenues and Gains (or Expenses and Losses) Salaries expense