8th State Bank prepares interim financial statements and follows an investment strategy of investing in equity securities. At the beginning of the third quarter of 2019, the bank held the following portfolio of equity securities:

During the third quarter of 2019, the bank entered into the following transactions:
July 2 Received dividends of $1.50 per share on the Gordan Company common stock.
14 Sold 600 shares of Olivia Company common stock for $20 per share.
Aug. 9 Purchased 300 shares of Porter Company common stock for $36 per share.
24 Sold 100 shares of Gordan Company common stock for $30 per share.
Sept. 17 Purchased 500 shares of Union Company common stock for $22 per share.
On September 30, 2019, the Porter Company common stock had a quoted market price of $36.50 per share and the Union Company common stock had a quoted market price of $21 per share.

Required:
1. Prepare journal entries to record the preceding information.
2. Show what the bank reports on its third quarter 2019 income statement for these equity securities.
3. Show how the bank reports these equity securities on its September 30, 2019, balance sheet.

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June 30, 2019 Cost Fair Value Security 100 shares of Gordan Company common stock 600 shares of Olivia Company common stock $ 2,800 $ 2,900 12,000 $14,900 12,600 $15,400 Totals