On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars...

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On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Stock Investments Apple stock Under Armour stock Cost $ 5,800 4,100 11,400 Fair Value Chipotle stock $ 8,000 2,400 13,500 1. After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. 2. In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. MARS COMPANY Assets Section of Balance Sheet December 31 Assets Current assets Stock investments (at cost) Fair value adjustment-Stock Stock investments (fair value) On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Stock Investments Apple stock Under Armour stock Cost $ 5,800 4,100 11,400 Fair Value Chipotle stock $ 8,000 2,400 13,500 1. After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. 2. In which income statement section is the unrealized gain (or loss) on the portfolio of stock investments reported? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 After the fair value adjustment is made, prepare the assets section of Mars Company's December 31 classified balance sheet. Assume Mars plans to sell its stock investments within the next six months. MARS COMPANY Assets Section of Balance Sheet December 31 Assets Current assets Stock investments (at cost) Fair value adjustment-Stock Stock investments (fair value)

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Required 1 Balance Sheet Assets Section Heres the assets section of Mars Companys December 31 classi... View the full answer