The following information shows Carperk Company's individual investments in securities during its current year, along with the December 31 fair values. a. Investment in Brava Company bonds: $420,500 cost; $457,000 fair value. Carperk intends to hold these bonds until they mature in 5 years. b. Investment in Baybridge common stock: 29,500 shares; $362,450 cost; $391,375 fair value. Carperk owns 32% of Baybridge's voting stock and has a significant influence over Baybridge. This investment is not readily marketable and is not classified as held-to-maturity or trading. d. Investment in Newton notes: $90,300 cost; $88,625 fair value. Newton notes are not readily marketable and are not classified as held-to-maturity or trading. e. Investment in Farmers common stock: 16,300 shares; $100,860 cost;$111,210 fair value. This stock is marketable, and Carperk intends to sell it within the year. This stock investment results in Carperk having an insignificant influence over Farmers. Required: 1. Identify whether each investment should be classified as a short-term or long-term investment. For each investment, indicate in which of the six investment classifications it should be placed. 2. Prepare a journal entry dated December 31 to record the fair value adjustment for the portfolio of available-for-sale debt securities. Carperk had no available-for-sale debt securities prior to this year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Identify whether each investment should be classified as a short-term or long-term investment. For each investment, indicate in which of the six investment classifications it should be placed. Type of Investment Classification of Long-term Investment Required 1 Required 2 > Journal entry worksheet Record the fair value adjustment for the portfolio of available-for-sale debt securities. Carperk had no available-for-sale debt securities prior to this year. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 - Record entry Clear entry View general journal Following are financial data for Nike and Under Armour. $ millions Net income Net sales Total assets Nike Current Year 1 Year prior $ 3,760 $ 3,273 32,376 30, 601 21,396 21,597 Under Armour Current Year 1 Year prior $ 257 $ 233 4,825 3,963 3,644 2,866 1. Compute return on total assets for the current year for (a) Nike and (b) Under Armour. 2. Compute both profit margin and total asset turnover for the current year for (a) Nike and (b) Under Armour. 3. Which company more efficiently used its assets in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute return on total assets for the current year for (a) Nike and (b) Under Armour. (Do not round intermediate calculations. Round your final answers to 1 decimal place.) Return on Total Assets (ROA) (a) Nike (b) Under Armour ( Required 1 Required 2 > The following information shows Carperk Company's individual investments in securities during its current year, along with the December 31 fair values. a. Investment in Brava Company bonds: $420,500 cost; $457,000 fair value. Carperk intends to hold these bonds until they mature in 5 years. b. Investment in Baybridge common stock: 29,500 shares; $362,450 cost; $391,375 fair value. Carperk owns 32% of Baybridge's voting stock and has a significant influence over Baybridge. This investment is not readily marketable and is not classified as held-to-maturity or trading. d. Investment in Newton notes: $90,300 cost; $88,625 fair value. Newton notes are not readily marketable and are not classified as held-to-maturity or trading. e. Investment in Farmers common stock: 16,300 shares; $100,860 cost;$111,210 fair value. This stock is marketable, and Carperk intends to sell it within the year. This stock investment results in Carperk having an insignificant influence over Farmers. Required: 1. Identify whether each investment should be classified as a short-term or long-term investment. For each investment, indicate in which of the six investment classifications it should be placed. 2. Prepare a journal entry dated December 31 to record the fair value adjustment for the portfolio of available-for-sale debt securities. Carperk had no available-for-sale debt securities prior to this year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Identify whether each investment should be classified as a short-term or long-term investment. For each investment, indicate in which of the six investment classifications it should be placed. Type of Investment Classification of Long-term Investment Required 1 Required 2 > Journal entry worksheet Record the fair value adjustment for the portfolio of available-for-sale debt securities. Carperk had no available-for-sale debt securities prior to this year. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 - Record entry Clear entry View general journal Following are financial data for Nike and Under Armour. $ millions Net income Net sales Total assets Nike Current Year 1 Year prior $ 3,760 $ 3,273 32,376 30, 601 21,396 21,597 Under Armour Current Year 1 Year prior $ 257 $ 233 4,825 3,963 3,644 2,866 1. Compute return on total assets for the current year for (a) Nike and (b) Under Armour. 2. Compute both profit margin and total asset turnover for the current year for (a) Nike and (b) Under Armour. 3. Which company more efficiently used its assets in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute return on total assets for the current year for (a) Nike and (b) Under Armour. (Do not round intermediate calculations. Round your final answers to 1 decimal place.) Return on Total Assets (ROA) (a) Nike (b) Under Armour ( Required 1 Required 2 >