Harper Corporation had the following portfolio of investments at December 31, 2017, that qualified and were accounted for using the FV-OCI method:

Early in 2018, Harper sold all the Frank Inc. shares for $17 per share, less a 1% commission on the sale. On December 31, 2018, Harper's portfolio consists of the following common shares:

Assume that Harper reports net income of $158,300 for its year ended December 31, 2018, and that the company follows a policy of capitalizing transaction costs and of transferring realized gains and losses from accumulated other comprehensive income directly to retained earnings.
Instructions
(a) What should be reported on Harper's December 31, 2017 statement of financial position for this long-term portfolio?
(b) What should be reported on Harper's December 31, 2018 statement of financial position for these investments?
(c) What should be reported on Harper's 2018 statement of comprehensive income for the investments accounted for using the FV-OCI model? Prepare a partial 2018 statement of comprehensive income for Harper.
(d) Assuming that comparative financial statements for 2017 and 2018 are presented in 2018, draft the footnote that is necessary for full disclosure of Harper's transactions and investments.
(e) As a potential investor in Harper Corporation, explain what information the other comprehensive income portion of the statement of comprehensive income provides for you.

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Frank Inc. Ellis Corp. Mendota Ltd. Quantity 2,000 shares 5,000 shares 4,000 shares Percent Interest 8% 14% 2% Cost per Share $11 23 31 Fair Value per Share $16 19 24 Quantity 5,000 shares 4,000 shares 2,000 shares Percent Interest 14% 2% 196 Cost $23 31 25 Fair Value per Share $28 23 Ellis Corp Mendota Ltd Kaptein Inc.