Question 5 Not complete Marked out of 10.00 Accounting for Marketable Debt Securities Tim Propp, CFO of Thunderbird, Inc., invested some of the firm's excess cash in the debt of three companies. At year-end, he reviewed how the portfolio of securities had done. Fair Value Security Name Cost Basis at Year-End Classification Microsoft Corporation $100,000 $122,000 Trading security Pfizer, Inc. 75,000 73,000 Trading security Boeing, Inc. 48,000 Available-for-sale security $225,000 5243,000 50,000 Required 1. Calculate the value that would be assigned to the portfolio of securities on Thunderbird's balance sheet at year-end. $ 2. Calculate the income statement effect of the portfolio of securities at year-end. $ 3. Calculate the income statement effect of the portfolio of securities at year-end assuming all securities are classified as available-for-sale. $ 4. Are the company's reported earnings impacted by whether the portfolio of securities are classified as trading versus available-for-sale? Will the company's share price be impacted by the particular classification adopted? Will the company's income taxes be impacted