During 2010, its first year of operations, Myron Company purchased two available

Question

During 2010, its first year of operations, Myron Company purchased two available-for-sale investments as follows:

Security Shares Purchased Cost

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Olson Products, Inc. 700 $29,000

Reynolds Co. 1,900 41,000

Assume that as of December 31, 2010, the Olson Products, Inc., stock had a market value of $49 per share and the Reynolds Co. stock had a market value of $20 per share. Myron Company had net income of $225,000, and paid no dividends for the year ending December 31, 2010.

A. Prepare the Current Assets section of the balance sheet presentation for the available-for-sale investments. Enter all amounts as positive numbers.

B. Prepare the Stockholders' Equity section of the balance sheet to reflect the earnings and unrealized gain (loss) for the available-for-sale investments. Enter all amounts as positive numbers.

Explanation / Answer

the question is not that clear could you please post it clearly.....will give the answer then

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