On December 31, 2010, Chartwell Financial Corporation's portfolio of trading investments consisted of the following securities:

The following transactions occurred in 2011:
Jan. 7 Sold all of the Alpha common shares at $48 per share.
10 Purchased 800 Miranda Limited common shares at $90 per share.
Feb. 2 Received a cash dividend of $2.50 per share on the Hicks preferred shares.
10 Sold all the Hicks preferred shares at $35 per share.
Mar. 15 Received 70 Bravo common shares as a result of a 5% stock dividend when the price was $66 per share.
June 23 Received 1,600 additional Miranda common shares as a result of a 3-for-1 stock split.
Sept. 1 Purchased an additional 600 Miranda common shares at $28 per share.
Dec. 15 Received a cash dividend of $0.50 per share on the Miranda common shares.
31 The market prices of the Bravo and Miranda common shares were $60 per share and $32 per share, respectively.
Instructions
(a) Record the above transactions, including required adjusting entries (if any).
(b) Show how the investments would be presented on the statement of financial position at December 31, 2011.
(c) Determine the balance in each of the income statement accounts that are affected in the transactions above and indicate how they would be presented on the income statement for the year ended December 31, 2011.
(d) How would your answers to (b) and (c) change if the fair values of the securities in the portfolio could not be obtained?

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Quantity 1,000 1,400 800 Carrying Amount S 50,000 98,000 32,000 $180,000 Fair Value 50,000 98,000 32,000 Alpha Ltd. common shares Bravo Ltd. common shares Hicks Ltd. preferred shares $180,000