Required information Problem 15-2A Recording, adjusting, and reporting available-for-sale debt securities LO P3 [The following information applies to the questions displayed below.) Mead Inc. 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 Jan. 20 Purchased Johnson & Johnson bonds for $21,000. Feb. 9 Purchased notes of Sony for $55,890. June 12 Purchased bonds of Mattel for $41,000. Dec. 31 Fair values for debt in the portfolio are Johnson & Johnson, $22,100; Sony, $46,650; and Mattel, $52,950. Year 2 Apr. 15 Sold all of the bonds of Johnson & Johnson for $24,000. July 5 Sold all of the bonds of Mattel for $36,200. July 22 Purchased notes of Sara Lee for $13,900. Aug. 19 Purchased bonds of Kodak for $15,650. Dec. 31 Fair values for debt in the portfolio are Kodak, $17,500; Sara Lee, $12,500; and Sony, $60,000. Year 3 Feb. 27 Purchased bonds of Microsoft for $159,600. June 21 sold all of the notes of Sony for $58,000. June 30 Purchased bonds of Black & Decker for $50,900. Aug 3 Sold all of the notes of Sara Lee for $10,200. Nov. 1 Sold all of the bonds of Kodak for $20,800. Dec. 31 Fair values for debt in the portfolio are Black & Decker, $54,900; and Microsoft, $158,700. Problem 15-2A Part 3 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. (Losses should be indicated by a minus sign.) Year 1 Year 2 Year 3 Realized gains (losses) Sale of Johnson & Johnson Sale of Mattel Sale of Sony Sale of Sara Lee Sale of Kodak Total realized gains (losses) Unrealized gains (losses) at year-end $ 0 $ 0 $ 0