Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] Brooks Company purchases debt investments as trading securities at a cost of $66,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $72,000. Exercise 15-3 (Static) Financial statement impact of trading securities LO P1 Brooks sells a portion of its trading securities (costing $3,000) for $4,000 cash. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. Debt Investments Trading Assets () increase 66,000 1. Cash (-) decrease 66,000 2 Debt Investments-Trading (+) increase 6,000 3. Cash (+) increase 4,000 3. Debt Investments-Trading (-) decrease 3,000 Liabilities .