\ w 1 NM Inbo,\D. !pLC EasyN P Mail 1@ Sear -l@ wh m/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionlocator assignment-take&inprogress fase Wha New Tab During the first year of operations, Makala Company purchased two available-for-sale investments as follows: Security Oceanna Company Rockledge, Inc Assume that as of December 31, Oceanna Company's stock had a market value of $49 per share and Rockledge, Inc.'s stock had a market value of $20 per share. Makala had 10,000 shares of no par stock outstanding that was issued for $150,000. For the year ending December 31, Makala had a net income of $105,000. No dividends were paid Required 1. Prepare the Current assets section of the balance sheet for the available-for sale securities as of December 31. Shares Purchased Cost $29,000 41,000 700 1,900 Makala Company Balance Sheet (selected items) December 31 Current assets: Available-for sale iavestments, at cost X72.300 Plus valiuation allowance for available-for sale investments (Pre