Problem 2 (20 points). Albert, CPA, who is engaged in the audit of the financial statements of Gabor Corporation for the year ending December 31, 20X2, is about to start an audit of the investment securities of the company. Gabor's records indicate that the company owns various registered bonds, as well as 25% of the outstanding common stock of Cady Industrial, Inc. Albert is satisfied with evidence that are at two locations as follows. GABOR CORPORATION LOCATION OF VARIOUS SECURITIES OF COMPANY AT DECEMBER 31, 20X2 (a) Recently acquired securities are in safekeeping with the broker through whom the securities were purchased. (b) The company also has some securities on hand in the company's bank safe deposit box. All of the securities in Gabor's portfolio are actively traded on organized exchanges. REQUIRED: (1) Assuming that the system of internal control over securities is satisfactory and may be relied upon, what are the objectives of the examination of these (2) What accounting issues will Albert need to be concerned with during the audit of these investment securities? Be sure to address the accounting principles involved as well as the appropriate presentation that will need to be made in the financial statements. What audit procedures should be undertaken by Albert with respect to the examination of Gabor's investment securities? Be specific as to the procedures that will need to be performed