Required Information Problem 15-2A (Algo) Recording, adjusting, and reporting avallable-for-sale debt securltles LO P3 [The following Information applles to the questions displayed below.] Mead Incorporated began operations in Year 1. Following is a serles of transactions and events Involving Its long-term debt Investments in avallable-for-sale securltles. Year 1 January 20 Purchased Johnson \& Johnson bonds for $25,00. February 9 Purchased Sony notes for $59,490. June 12 Purchased Mattel bonds for $45,000. December 31 Fair values for debt in the portfolio are Johnson \& Johnson, $26,900; Sony, $49,050; and Mattel, $55,950. Year 2 April 15 sold all of the Johnson \& Johnson bonds for $28,000. July 5 sold all of the Mattel bonds for $39,000. July 22 Purchased Sara Lee notes for $17,100. August 19 Purchased Kodak bonds for $18,450. December 31 Fair values for debt in the portfolio are Kodak, \$18,900; Sara Lee, \$16,500; and Sony, \$63,e00. Year 3 February 27 Purchased Microsoft bonds for $161,000. June 21 Sold all of the sony notes for $61,200. June 30 Purchased Black \& Decker bonds for $54,900. August 3 sold all of the Sara Lee notes for $13,800. November 1 sold all of the Kodak bonds for $23,480. December 31 Fair values for debt in the portfolio are Black \& Decker, \$57,300; and Microsoft, $159,580. Problem 15-2A (Algo) Part 2 2. Complete the following table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total falr value of the portfolio of long-term avallable-for-sale debt securltles at each year-end. Note: Loss amounts should be Indlcated with a minus sign. [The following Information applies to the questions displayed below.] Mead Incorporated began operations in Year 1. Following is a serles of transactlons and events Involving Its long-term debt Investments in avallable-for-sale securltles. Year 1 January 20 Purchased Johnson \& Johnson bonds for $25,080. February 9 Purchased Sony notes for $59,490. June 12 Purchased Mattel bonds for $45,000. December 31 Fair values for debt in the portfolio are Johnson \& Johnson, $26,980; Sony, $49,050; and Mattel, $55,950. Year 2 April 15 sold all of the Johnson \& Johnson bonds for $28,000. July 5 sold all of the Mattel bonds for $39,800. July 22 Purchased Sara Lee notes for $17,100. August 19 Purchased Kodak bonds for $18,450. December 31 Fair values for debt in the portfolio are Kodak, \$18,900; Sara Lee, \$16,500; and Sony, \$63,e00. Year 3 February 27 Purchased Microsoft bonds for $161,000. June 21 sold all of the Sony notes for $61,200. June 30 Purchased Black \& Decker bonds for $54,900. August 3 sold all of the Sara Lee notes for $13,800. November 1 Sold all of the Kodak bonds for $23,400. December 31 Fair values for debt in the portfolio are Black \& Decker, \$57,300; and Microsoft, $159,580. Problem 15-2A (Algo) Part 3 3. Complete the following table that summarlzes (a) the realized gains and losses and (b) the unrealized galns or losses for the portfollo of long-term avallable-for-sale debt securlties at each year-end. Note: Losses should be Indlcated by a minus sign