The question marks below in the Balance Sheet are the answers I need. Showing your work would be appreciated, thank you
Investment Reporting
Luminous Publishing, Inc., is a book publisher.
Note 1. Investments are classified as available for sale. The investments at cost and fair value on December 31, 2016, are as follows:
Note 2. The investment in Quest Co. stock is an equity method investment representing 30% of the outstanding shares of Quest Co.
The following selected investment transactions occurred during 2017:
Required:
The comparative unclassified balance sheets for December 31, 2017 and 2016 are provided below. Determine the missing amounts in the unclassified balance sheet. Do not round interim calculations. Round final answers to the nearest dollar.
$419000
|
|
No. of Shares |
Cost per Share |
Total Cost |
Total Fair Value |
||||
|
Barns Co. Stock |
1,500 |
|
$14 |
|
$21,000 |
|
$19,100 |
|
|
Dynasty Co. Stock |
800 |
|
35 |
|
28,000 |
|
26,200 |
|
|
|
|
|
|
|
$49,000 |
|
$45,300 |
|
