Please show all work and calculations

E13-9 Trading Securities Southeast Bank invests in trading securities and prepares quarterly financial statements. At the LO 13.3 beginning of the fourth quarter of 2018, the bank held as trading securities 200 shares of Eglan Company common stock that originally cost $5,500. At that time, these securities had a fair value of $5,200. During the fourth quarter, the bank engaged in the following trading securities transactions: SHOW ME HOW Oct. 26 Nov. 26 Purchased 300 shares of Farrell Company common stock for $35 per share. Sold 200 shares of Eglan common stock for $25 per share Dec. 10 Purchased 400 shares of Gray Company common stock for $41 per share On December 31, 2018, the quoted market prices of the shares were as follows: Eglan Company, $52 per share; Farrell Company, $38 per share; and Gray Company, $40 per share Required 1. Prepare journal entries to record the preceding information for the fourth quarter. 2. Show what the bank reports on its fourth quarter 2018 income statement for these trading securitics 3. Show how the bank reports these trading securities on its balance sheet at the end of the fourth quarter of 2018. 4. Next Level What justification does the FASB give for its treatment of unrealized holding gains and losses for trading securitics