Required information [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 $27,000. February 9 Purchased Sony notes for $61,290. June 12 Purchased Mattel bonds for $47,000. December 31 Pair values for debt in the portfolio are Johnson & Johnson, $31,300; Sony, $50,250; and Mattel, $56,050. Year 2 April 15 Sold all of the Johnson & Johnson bonds for $30,000. July 5 Sold all of the Mattel bonds for $40,400. July 22 Purchased Sara Lee notes for $16,700. August 19 Purchased Kodak bonds for $19,850. December 31 Pair values for debt in the portfolio are Kodak, $19,600; Sara Lee, $18,500; and Sony, $64,000. Year 3 February 27 Purchased Microsoft bonds for $159,200. June 21 Sold all of the Sony notes for $62,800. June 30 Purchased Black & Decker bonds for $56,900. August 3 Sold all of the Sara Lee notes for $15,600. November 1 Sold all of the Kodak bonds for $24,700. December 31 Pair values for debt in the portfolio are Black & Decker, $58,500; and Microsoft, $159,900. 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