Problem 15-2A (Algo) Recording, adjusting, and reporting available-for-sale debt securities LO P3 [The following information applies to the questions displayed below.] Mead Incorporated began operations in Year 1 . Following is a series of transactions and events involving its long-term debt investments in available-for-sale securities. Year 1 January 20 Purchased Johnson \& Johnson bonds for $29,000. February 9 Purchased Sony notes for $63,090. June 12 Purchased Mattel bonds for $49,000. December 31 Fair values for debt in the portfollo are Johnson \& Johnson, $31,700; Sony, $54,450; and Mattel, $56,650. Year 2 April 15 Sold al1 of the Johnson is Johnson bonds for $32,000. July 5 sold all of the Mattel bonds for $41,800. July 22 Purchased Sara Loe notes for $20,300, August 19 Purchased Kodak bonds for \$21,250. December 31 Fair values for debt in the portfolio are Kodak, $22,300; sara Lee, $20,500; and sony, $64,000. Year 3 February 27 purchased Microsoft bonds for $160,400. June 21 sold all of the Sony notes for $64,400. June 30 Purchased Black \& Decker bonds for $58,900. August 3 sold all of the Sara Lee notes for $17,400. November 1 sold all of the Kodak bonds for $26,000. December 31 Fair values for debt in the portfolio are B1ack \& Decker, $59,700; and Microsoft, $160,300. 2. Complete the following table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the portfolio of long-term available-for-sale debt securities at each year-end. (Loss amounts should be indicated with a minus sign.)