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Required information [The following information applies to the questions displayed below.] On December 31. Mars Company had the following portfolio of stock investments with insignificant

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Required information [The following information applies to the questions displayed below.] On December 31. Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. repare the December 31 adjusting entry to report these investments at fair value. 1. After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. 2. In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? Complete this question by entering your answers in the tabs below. After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. Complete this question by entering your answers in the tabs below

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