Rantzow$-$Lear Company buys and sells debt securities expecting to earn profits on short$-$term differences in price, and holds these

investments in its trading portfolio. The company's fiscal year ends on December $31.$ The following selected transactions relating to

Rantzow$-$Lear's trading account occurred during December $2024$ and the first week of $2025.$

Required:

Prepare the appropriate journal entry or entries for each transaction.

Indicate any amounts that Rantzow$-$Lear Company would report in its $2024$ balance sheet and income statement as a result of

this investment. Ignore income taxes.

Answer is complete but not entirely correct.

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Indicate any amounts that Rantzow$-$Lear Company would report in its $2024$ balance sheet and income statement as a result of

this investment. Ignore income taxes. WHat is RETAINED EARNINGS?????