Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 4 Exercise 12-18 (Algo) Equity investments; fair value through net income [LO12-5) 714 The investments of Harlon Enterprises included the following cost and fair value amounts ($ in millions): points Equity Investments A Corporation shares B Corporation shares C Corporation shares D Industries shares Totals Cost $ 58 73 34 64 $229 Fair Value, Dec. 31 2021 2022 $ 33 N/A 73 $ 75 N/A 33 65 69 $171 $177 Harlon accounts for its equity Investment portfolio at fair value through net income. Harlon sold its holdings of A Corporation shares on June 1, 2022, for $34 million. On September 12, it purchased the C Corporation shares. Required: 1. What is the effect of the sale of the A Corporation shares and the purchase of the C Corporation shares on Harlon's 2022 pretax earnings? 2. At what amount should Harlon's securities equity investment portfolio be reported in its 2022 balance sheet? (For all requirements, enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) Answer is complete but not entirely correct. No effect 1. 2. 3 million 177 million Amount