Stoll Co.s long term available-for-sale portfolio at December 31, 2012, consists of the following:

Available-for-Sale Securities

40,000 shares of Company A common Stock... Cost: $535,300 Fair Value: $490,000

7,000 shares of Company B common Stock... Cost: 159,380 Fair Value: 154,000

17,500 shares of Company C common Stock.... Cost: 662,750 Fair Value: 640,938

Stoll enters into the following long term investment transactions during year 2013

January 29 Sold 3,500 shares of Company B common stock for $79,188 less a brokerage fee of $1,500

April 17 Purchased 10,000 shares of Company W common stock for $197,500 plus a brokerage fee of $2,400. The shares represent a 30% ownership in Company W

July 6 Purchased 4,500 shares of Company X common stock for $126,562 plus a brokerage fee of $1,750. The shares represent a 10% ownership in Company X

August 22 Purchased 50,000 shares of Company Y common stock for $375,000 plus a brokerage fee of $1,200. The shares represent a 51% ownership in Company Y

Nov 13 Purchased 8,500 shares of Company Z common stock for $267,900 plus a brokerage fee of $2,450. The shares represent a 5% ownership in Company Z

Dec 9 Sold 40,000 shares of Company A common stock for $515,000 less a brokerage fee of $4,100

The fair values of its investments at December 31, 2013 B: $81,375 C: $610,312 W:$191,250 X: $118,125 Y:$531,250 Z: $278,800

Required

1.What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Stoll report on its December 31, 2013, income statement?

2.Determine the amount Stoll should report on its December 31, 2013, balance sheet for its long-term investments in available-for-sale securities.

3Prepare any necessary December 31, 2013, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities.

4.What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Stoll report on its December 31, 2013, income statement?