The available-for-sale investments at cost and fair value on December 31, 2017, are as follows: Issuing Company Cost Fair Value Alvarez Inc. $36,480 $39,936 Hirsch Inc. 54,720 60,040 $91,200 $99,976 June 30. The Investment in Wright Co. stock represents 30% of the outstanding shares of Wright Co. The following selected investment transactions occurred during 2018: Jan. 2. Purchased $32,000 of Richter Inc. 5%, 10-year bonds at face value as an available-for-sale investment. The bonds pay interest on June 30 and December 31. Received interest for 6 months on the Richter Inc. bonds purchased on January 2. July 12 Dividends of $12,000 are received on the Wright Co. investment. Oct. 1. Purchased $24,000 of Toon Co. 4%, 10-year bonds at face value as an available- for-sale investment. The bonds pay interest on October 1 and April 1. Dec. 31. Wright Co, reported a total net income of $80,000 for 20Y8, which Teasdale Inc. recorded using the equity method. 31. Received interest for 6 months on the Richter Inc, bonds purchased on January 2. Accrued interest for 3 months on the Toon Co. bonds purchased on October 1. 31. 31. The fair values of the available-for-sale investments are as follows: Issuing Company Fair Value Alvarez Inc. $39,840 Hirsch Inc. 49,400 Richter Inc. 38,400 Toon Co. 24,240 For the year ending December 31, 2018, Teasdale Inc. reported net income of $51,240 and paid no dividends. Required: The comparative unclassified balance sheets for December 31, 2017 and 2048 are provided below. Selected balances are missing, Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round interim calculations. Round final answers to nearest dollar. I Teasdale Inc. Partial Balance Sheets December 31 2017 20Y8 Available for Sale Investments (at Cost) $91,200 8,776 Valuation Allowance for Available for Sale Investments 8,776 $99,976 Available for Sale Investments (Fair Value) Previous Marl Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round Interi final answers to nearest dollar. Teasdale Inc. Partial Balance Sheets December 31 2018 2017 Available-for-Sale Investments (at Cost) Valuation Allowance for Available-for-Sale Investments $91,200 8,776 $99,976 Available for Sale Investments (Fair Value) Interest Receivable Investment in Wright Co. stock Office Equipment (Net) $69,200 105,000 96,000 Total Assets $538,176 80,00 Accounts Payable Common Stock Excess Issue Price Over Par Retained Earnings $91 poo $72,000 on na Accounting numeric field 250,UUU ZU,UUU 127,400 Unrealized Gain (Loss) on Available-for-Sale Investments 8,776 Total Labilities and Stockholders' Equity $538,176 The available-for-sale investments at cost and fair value on December 31, 2017, are as follows: Issuing Company Cost Fair Value Alvarez Inc. $36,480 $39,936 Hirsch Inc. 54,720 60,040 $91,200 $99,976 June 30. The Investment in Wright Co. stock represents 30% of the outstanding shares of Wright Co. The following selected investment transactions occurred during 2018: Jan. 2. Purchased $32,000 of Richter Inc. 5%, 10-year bonds at face value as an available-for-sale investment. The bonds pay interest on June 30 and December 31. Received interest for 6 months on the Richter Inc. bonds purchased on January 2. July 12 Dividends of $12,000 are received on the Wright Co. investment. Oct. 1. Purchased $24,000 of Toon Co. 4%, 10-year bonds at face value as an available- for-sale investment. The bonds pay interest on October 1 and April 1. Dec. 31. Wright Co, reported a total net income of $80,000 for 20Y8, which Teasdale Inc. recorded using the equity method. 31. Received interest for 6 months on the Richter Inc, bonds purchased on January 2. Accrued interest for 3 months on the Toon Co. bonds purchased on October 1. 31. 31. The fair values of the available-for-sale investments are as follows: Issuing Company Fair Value Alvarez Inc. $39,840 Hirsch Inc. 49,400 Richter Inc. 38,400 Toon Co. 24,240 For the year ending December 31, 2018, Teasdale Inc. reported net income of $51,240 and paid no dividends. Required: The comparative unclassified balance sheets for December 31, 2017 and 2048 are provided below. Selected balances are missing, Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round interim calculations. Round final answers to nearest dollar. I Teasdale Inc. Partial Balance Sheets December 31 2017 20Y8 Available for Sale Investments (at Cost) $91,200 8,776 Valuation Allowance for Available for Sale Investments 8,776 $99,976 Available for Sale Investments (Fair Value) Previous Marl Determine the missing amounts. Use minus sign to indicate the negative amounts. Do not round Interi final answers to nearest dollar. Teasdale Inc. Partial Balance Sheets December 31 2018 2017 Available-for-Sale Investments (at Cost) Valuation Allowance for Available-for-Sale Investments $91,200 8,776 $99,976 Available for Sale Investments (Fair Value) Interest Receivable Investment in Wright Co. stock Office Equipment (Net) $69,200 105,000 96,000 Total Assets $538,176 80,00 Accounts Payable Common Stock Excess Issue Price Over Par Retained Earnings $91 poo $72,000 on na Accounting numeric field 250,UUU ZU,UUU 127,400 Unrealized Gain (Loss) on Available-for-Sale Investments 8,776 Total Labilities and Stockholders' Equity $538,176
