Required information Problem 15-2A (Algo) Recording, adjusting, and reporting available-for-sale debt securities LO P3 [The following information applies to the questions displayed below.] Mead Incorporated began operations in Year 1. Following is a series of transactions and events involving its long-term debt investments in available-for-sale securities. Year 1 January 20 Purchased Johnson & Johnson bonds for $24,500. February 9 Purchased Sony notes for $59,040. June 12 Purchased Mattel bonds for $44,500. December 31 Fair values for debt in the portfolio are Johnson & Johnson, $26, 300; Sony, $49,750; and Mattel, Year 2 $54,550. April 15 Sold all of the Johnson & Johnson bonds for $27,500. July 5 Sold all of the Hattel bonds for $38,650. July 22 Purchased Sara Lee notes for $16,700. August 19 Purchased Kodak bonds for $18,100. December 31 Fair values for debt in the portfolio are Kodak, $18,725; Sara Lee, $16,000; and Sony, $62,000. Year 3 February 27 Purchased Microsoft bonds for $161,200. June 21 Sold all of the Sony notes for $60,800. June 30 Purchased Black & Decker bonds for $54,400. August 3 Sold all of the Sara Lee notes for $13,350. November 1 Sold all of the Kodak bonds for $23,075. December 31 Fair values for debt in the portfolio are Black & Decker, $57,000; and Microsoft, $159,400. 3. Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale debt securities at each year-end. Note: Losses should be indicated by a minus sign. Realized gains (losses) Sale of Johnson & Johnson Sale of Mattel Year 1 Year 2 Year 3 Sale of Sony Sale of Sara Lee Sale of Kodak Total realized gains (losses) $ 0 $ 0 $ 0 Unrealized gains (losses) at year-end