$[$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.

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.

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.

Required $1$

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.