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

Question:

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

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.(b) Prepare the Stockholders' Equity section of the balance sheet to reflect the earnings and unrealized gain (loss) for the available-for-sale investments.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...