Problem 17-11 (Part Level Submission) PLEASE HELP ANWSER PART C

Skysong Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the securities portfolio consisted of the following common stocks.

Security		Quantity				Cost		Fair Value
Lindsay Jones, Inc.		1,000 shares				$15,100		$21,000
Poley Corp.		2,000 shares				40,100		42,200
Arnold Aircraft		2,000 shares				71,400		59,400
				Totals		$126,600		$122,600

c)

On December 31, 2022, Skysongs securities portfolio consisted of the following common stocks.

Security		Quantity				Cost		Fair Value
Arnold Aircraft		2,000 shares				$71,400		$82,400
Duff Company		500 shares				7,900		6,100
				Totals		$79,300		$88,500

During the year 2022, Skysong Corp. sold 3,000 shares of Lindsay Jones, Inc. for $40,100 and 500 shares of Duff Company at a loss of $2,700. What should be reported on the face of Skysongs December 31, 2022, balance sheet? What should be reported on Skysongs 2022 income statement? (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(a) Your answer is correct. What should be reported on Skysong's December 31, 2020, balance sheet relative to these securities? What should be reported on Skysong's 2020 income statement? (If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Skysong Corp. Balance Sheet (Partial) December 31, 2020 Current Assets Equity Investments 122600 $ Income Statement For the Year Ended December 31, 2020 Other Expenses and Losses Unrealized Holding Gair 4000 Click if you would like to Show Work for this question: Open Show Work During the year 2021, Skysong Corp. sold 2,000 shares of Poley Corp. for $38,300 and purchased 2,000 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company. What should be reported on Skysong's December 31, 2021, balance sheet? What should be reported on Skysong's 2021 income statement? (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Skysong Corp. Balance Sheet (Partial) December 31, 2021 Current Assets Equity Investments 94200 $ Skysong Corp. Income Statement (Partial) For the Year Ended December 31, 2021 Other Expenses and Losses Loss on Sale of Investor 1800 $1 ! Unrealized Holding Gair 37300 Click if you would like to Show Work for this question: Open Show Work On December 31, 2022, Skysong's securities portfolio consisted of the following common stocks. Security Cost Fair Value Arnold Aircraft Quantity 2,000 shares 500 shares $71,400 $82,400 Duff Company 7,900 6,100 Totals $79,300 $88,500 During the year 2022, Skysong Corp. sold 3,000 shares of Lindsay Jones, Inc. for $40,100 and 500 shares of Duff Company at a loss of $2,700. What should be reported on the face of Skysong's December 31, 2022, balance sheet? What should be reported on Skysong's 2022 income statement? (If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Skysong Corp. Balance Sheet (Partial) A $ Skysong Corp. Income Statement (Partial) $ Click if you would like to Show Work for this question: Open Show Work