View Policies Show Attempt History Current Attempt in Progress Vaughn Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the securities portfolio consisted of the following common stocks Security Lindsay Jones, Inc. Poley Corp Arnold Aircraft Quantity 1.100 shares 2.100 shares 2,100 shares Cost $14,800 40,000 71,800 $126,600 Fair Value $20,800 42,000 59,700 $122.500 Totals Question 12 of 22 19.33/20 iii Your answer is partially correct. On December 31, 2022, Vaughn's securities portfolio consisted of the following common stocks. Security Arnold Aircraft Duff Company Quantity 2,100 shares 550 shares Cost $71,800 8,100 Fair Value $81,200 6,100 $87,300 Totals $79.900 During the year 2022, Vaughn Corp. sold 3.200 shares of Lindsay Jones, Inc for $40,300 and 550 shares of Duff Company at a loss of $2,700 What should be reported on the face of Vaughn's December 31, 2022, balance sheet? What should be reported on Vaughn's 2022 income statement? Of no entry is required, select "No Entry for the account titles and enter for the amounts) Current Assets Equity Investments 87,300 Vaughn Corp. Income Statement (Partial) For the Year Ended December 31, 2022 Othel xpenses and losses Unrealized Holding Gain or loss-Income Los on Sale of investments 49.500 e Textbook and Media 19.33/20 Question 12 of 22 Your answer is correct. On December 31, 2021, Vaughn's securities portfolio consisted of the following common stocks, Cost $14,800 33,300 Security Lindsay Jones, Inc Lindsay Jones, Inc Duff Company Arnold Aircraft Quantity 1,100 shares 2,100 shares 1,100 shares 2,100 shares Fair Value $20,200 39,900 12.100 21,800 $94,000 16,200 71.800 $136,100 Totals During the year 2021. Vaughn Corp, sold 2,100 shares of Poley Corp. for $38,200 and purchased 2,100 more shares of Lindsay Jones, Inc. and 1,100 shares of Duft Company What should be reported on Vaughn's December 31, 2021, balance sheet? What should be reported on Vaughn's 2021 Income statement? Of no entry is required, select "No Entry for the account titles and enter for the amounts.) Vaughn Corp. Balance Sheet (Partial) December 31, 2021 Current Assets 14 AN