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2:50 AA A v2.cengagenow.com C Ch 15-3 Exercises and Problems EX. 15-01.ALGO Balance Sheet Presentation of Available-for-Sale EX. 15-07.BLANKSHEET.AL... Investments EX. 15-10.BLANKSHEET.AL... During Year 1, its first year of operations, Galileo Company EX.15-11.ALGO purchased two available-for-sale investments as follows: EX.15-15.BLANKSHEET.AL... Security Shares Purchased Cost EX. 15-23.ALGO Hawking Inc. 810 $39,042 Pavlov Co. 2,200 55,220 EX. 15-20.ALGO Assume that as of December 31, Year 1, the Hawking Inc. stock had a market value of $57 per share and the Pavlov Co. stock had a market value of $45 per share. Galileo Company had net income of $302,600 and paid no dividends for the year ending December 31, Year 1. All of the available-for-sale investments are classified as current assets. a. Prepare the Current Assets section of the balance sheet presentation for the available-for-sale investments. Galileo Company Balance Sheet (selected items) December 31, Year 1 Assets Current Assets: b. Prepare the Stockholders' Equity section of the balance sheet to reflect the earnings and unrealized gain (loss) for the available-for-sale investments. Galileo Company Balance Sheet (selected Stockholders' Equity items) December 31, Year 1 Stockholders' Equity Progress: 6/7 items Check My Work 2 more Check My Work uses remaining. Previous Next >