veri P16-2A In January the cient cash to permit sonm ry 2017, the management of Kinzie Company concludes that it has suffi hort-term investments in debt and stock securities. During the the following transactions occurred. Feb. 1 Purchas Mar. 1 Purchased 50 $1,000, 7% Yoakem bonds for $50,000. Interest is payable sed 600 shares of Muninger common stock for $32,400. Purchased 800 shares of Tatman common stock for $20,000. semiannually on April 1 and October 1 Received a cash dividend of $0.60 per share on the Muninger common stock. Sold 200 shares of Muninger common stock at $58 per share. Received a $1 per share cash dividend on the Tatman common stock. Received the semiannual interest on the Yoakem bonds. Sold the Yoakem bonds for $49,000. July 1 Aug. 1 Sept. 1 Oct. 1 Oct. 1 At December 31, the fair value of the Muninger common stock was $55 per share. The fair value of the Tatman commop stock was $24 per share. Instructions (a) Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (b) Prepa re the adjusting entry at December 31, 2017, to report the investment securities at fair value. All securities are considered to be trading securities. (c) Sh ow the balance sheet presentation of investment securities at December 31, 2017. the income statement accounts and give the statement classification of each account