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Solve and explain. Godfrey Corporation holds, as a long-term investment, available-for-sale securities costing $72,010. At December 31, 2015, the fair value of the securities is

Solve and explain.

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Godfrey Corporation holds, as a long-term investment, available-for-sale securities costing $72,010. At December 31, 2015, the fair value of the securities is $65,850. Show the financial statement presentation of the available-for-sale securities and related accounts. Assume the available-for-sale securities are noncurrent GOLDFREY CORPORATION Balance Sheet (Partial) December 31, 2015

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