The investment manager of 4th national bank invests some of the banks financial resources in trading securities. During the last quarter of 2018, the following transactions occurred in regard to these trading securities:

On December 31, 2018, the market values of the shares were as follows: Morgan, $87 per share; Parker, $61 per share and tathem $37.25 per share. The bank held no trading securities at the beginning of the last quarter of 2018.

Required:

1. Prepare journal entries to record the preceding information.

2. Show what the bank reports on its fourth quarter 2018 income statement for these trading securities.

3. Show how the bank reports these trading securities on its December 31,2018 balance sheet.

ading Securities Instructions Chart of Accounts General Jourmal Income Statement Balanc structions he investment manager of 4th National Bank invests some of the bank's financial resources in trading securitie Nov. 5 Purchased 200 shares of Morgan Company common stock at S86 per share. Purchased 300 shares of Parker Company preferred stock at $63 per share Sold 100 shares of Morgan Company common stock at $89 per share 19 29 Dec. 15 Purchased 400 shares of Tathem Company common stock at $37 per share 17 Sold 100 shares of Parker Company preferred stock at $62 per share. n December 31, 2018, the market values of the shares were as follows: Morgan, $87 per share, Parker, s61 Required: 1. Prepare journal entries to record the preceding information 2. Show what the bank reports on its fourth auarter 2018 income statement for these tradina securities General Journal Income Statement Balance Sheet res of Morgan Company common stock at $86 per share res of Parker Company preferred stock at $63 per share Morgan Company common stock at $89 per share. res of Tathem Company common stock at $37 per share General Journal Prepare journal entries to record the 2018 transactions, Addtional Instructions GENERAL JOURNAL ACCOUNT TITLE POST RE. CREDIT 13 14 eBook Calculator Print llenm Trading Securities Chart of Accounts General Journal Income Statement Balance Sheet Stat ement Show what the bank reports on its fourth quarter 2018 income statement for these trading securities Aditional Instructions 4th National Bank Partial Income Statement For the Year Ended December 31, 2018 Trading Securities General Journal Income Statement Balance Sheet Balance Sheet Show how the bank reports these trading securities on its December 31, 2018, balance sheet Additionat Instructions 4th National Bank Partial Balance Sheet December 31, 2018 Current assets