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I just need help with the second requirement.American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For theGeneral Journal Credit No 1 Date December 12, 2021 Investment in bonds Cash Debit 15.0 15.0 2 30.0 December 13, 2021 Investme7 December 23, 2021 Cash Investment in equity securities 8 4.0 December 26, 2021 Fair value adjustment Gain on investment (NI($ in millions) Balance sheet: Current Assets Investments in equity securities $ (19.1) Total $ (19.1) Income statement: OtheIncome statement Other revenue (expenses): Total interest and dividend revenue Gain (loss) on investments: Total other revenu$ 0.0 Total interest and dividend revenue Gain (loss) on investments: Dividend revenue (December) Gain on investments (DecembInterest revenue (first 11 months) Investment in bonds Investments in equity securities Loss on investments (December) Loss o

These are the same choices for every part of the statements.

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Answer #1
Requirement 2  
($ in millions)
Balance sheet (short-term investment):
Equity investments $                                               15
Less: Fair value adjustment $                                               (3)
Total $                                               12
Income statement:
Investment revenue ($5 + 0.2) $                                            5.20
Gain on sale of investments ($7 + 0.7 + 4) $                                         11.70
Loss on sale of investments ($10 + 3 + 6) $                                       (19.00)
Net unrealized holding gains and losses on investments held $                                         (3.00)
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