P16-2A In January 2017, the management of Kinzie Company concludes that it has suf - cient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1 Oct. 1 Oct. 1 Purchased 600 shares of Muninger common stock for $32,400. Purchased 800 shares of Tatman common stock for $20,000.Purchased 50 $1,000, 7% Yoakem bonds for $50,000. Interest is payable semiannually on April 1 and October 1. Received a cash dividend of $0.60 per share on the Muninger common stock. Sold 200 shares of Muninger common stock at $58 per share.Received a $1 per share cash dividend on the Tatman common stock. Received the semiannual interest on the Yoakem bonds. Sold the Yoakem bonds for $49,000. At December 31, the fair value of the Muninger common stock was $55 per share. The fair value of the Tatman common stock was $24 per share. Instructions * (a) Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) * (b) Prepare the adjusting entry at December 31, 2017, to report the investment securities at fair value. All securities are considered to be trading securities. * (c) Show the balance sheet presentation of investment securities at December 31, 2017. * (d) Identify the income statement accounts and give the statement classi cation of each account.