Required information PA-4 (Algo) Recording and Reporting Passive Investments LO A-1, A-2 [The following information applies to the questions displayed below.] During January 2020, Optimum Glass Company purchased the following securities for its long-term investment portfolio: - D-Light Corporation common stock: 12,600 shares ( 96,100 outstanding) at $10 per share - Fluorescent Company bonds: $304,000 (10-year, 8 percent) purchased at par (not to be held to maturity or actively traded) All companies have a December 31 year-end. Subsequent to acquisition, the following data were available: Journal entry worksheet Record the purchase of the investments in 2020. Note: Enter debits before credits. Journal entry worksheet Record the income reported by D-Light Corporation and Fluorescent Company in 2020. Note: Enter debits before credits. Journal entry worksheet Record the income reported by D-Light Corporation and Fluorescent Company in 2021. Note: Enter debits before credits. Journal entry worksheet Record the dividends and interest received in 2020. Note: Enter debits before credits. Journal entry worksheet Record the dividends and interest received in 2021. Note: Enter debits before credits. Journal entry worksheet Record the fair value effects at 2020 year-end when D-Light Corporation common stock is selling at $9.00 per share and Fluorescent Company bonds are selling for $262,000. Note: Enter debits before credits. Journal entry worksheet Record the fair value effects at 2021 year-end when D-Light Corporation common stock is selling at $10.50 per share and Fluorescent Company bonds are selling for $272,000. Note: Enter debits before credits. For each year, show how long-term investments should be reported on the financial statements. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial statements. (Amounts to be deducted should be indicated by a minus sign.) For each year, show how revenues and gains/losses should be reported on the financial statements. (Amounts to be deducted should be indicated by a minus sign.) Required information PA-4 (Algo) Recording and Reporting Passive Investments LO A-1, A-2 [The following information applies to the questions displayed below.] During January 2020, Optimum Glass Company purchased the following securities for its long-term investment portfolio: - D-Light Corporation common stock: 12,600 shares ( 96,100 outstanding) at $10 per share - Fluorescent Company bonds: $304,000 (10-year, 8 percent) purchased at par (not to be held to maturity or actively traded) All companies have a December 31 year-end. Subsequent to acquisition, the following data were available: Journal entry worksheet Record the purchase of the investments in 2020. Note: Enter debits before credits. Journal entry worksheet Record the income reported by D-Light Corporation and Fluorescent Company in 2020. Note: Enter debits before credits. Journal entry worksheet Record the income reported by D-Light Corporation and Fluorescent Company in 2021. Note: Enter debits before credits. Journal entry worksheet Record the dividends and interest received in 2020. Note: Enter debits before credits. Journal entry worksheet Record the dividends and interest received in 2021. Note: Enter debits before credits. Journal entry worksheet Record the fair value effects at 2020 year-end when D-Light Corporation common stock is selling at $9.00 per share and Fluorescent Company bonds are selling for $262,000. Note: Enter debits before credits. Journal entry worksheet Record the fair value effects at 2021 year-end when D-Light Corporation common stock is selling at $10.50 per share and Fluorescent Company bonds are selling for $272,000. Note: Enter debits before credits. For each year, show how long-term investments should be reported on the financial statements. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial statements. (Amounts to be deducted should be indicated by a minus sign.) For each year, show how revenues and gains/losses should be reported on the financial statements. (Amounts to be deducted should be indicated by a minus sign.)