Levy Company and Guyer Books made the same equity investment—200 shares of Watson Manufacturing at a cost of $12 per share—on November 18. On December 31, the market value of Watson had risen to $45 per share. Guyer Books held its investment in Watson, while Levy sold the shares and immediately repurchased them at the December 31 market value. REQUIRED: a.Compute the balance sheet value and income effect associated with these events recorded by the two companies assuming that the investment was classified as trading and availablefor-sale. That is, fill in the following chart with the appropriate dollar values. Guyer Books Levy Co. Balance Sheet Income Balance Sheet Income Value Effect Value Effect Investment classified as: Trading securities Available-for-sale securities b.Discuss the differences