Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Whispering, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $36,750 $31,500 $(5,250 ) B 26,250 29,400 3,150 C 48,300 53,550 5,250 Total $111,300 $114,450 3,150 Previous fair value adjustment balanceDr. 840 Fair value adjustmentDr. $2,310 On January 20, 2018, Whispering, Inc. sold security A for $31,710. The sale proceeds are net of brokerage fees (b) Show the balance sheet presentation of the investment-related accounts at December 31, 2017 (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Exercise 17-11 (Part Level Submission) Marin Corporation made the following cash purchases of securities during 2017, which is the first year in which Marin invested in securities. 1. On January 15, purchased 10,140 shares of Sanchez Companys common stock at $40.20 per share plus commission $2,120. 2. On April 1, purchased 5,140 shares of Vicario Co.s common stock at $62.40 per share plus commission $3,510. 3. On September 10, purchased 7,140 shares of WTA Co.s preferred stock at $31.80 per share plus commission $5,050. On May 20, 2017, Marin sold 4,140 shares of Sanchez Companys common stock at a market price of $42 per share less brokerage commissions, taxes, and fees of $3,990. The year-end fair values per share were Sanchez $36, Vicario $66, and WTA $33.60. In addition, the chief accountant of Marin told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases. (b) Prepare the journal entry for the security sale on May 20 (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Exercise 17-16 (Part Level Submission) Marigold Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2017. The purchase price was $1,168,400 for 50,800 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31, 2018. Kulikowski reported net income of $663,000 for 2018. The fair value of Kulikowskis stock was $26 per share at December 31, 2018. Assume that the security is a trading security. (a) Prepare the journal entries for Marigold Inc. for 2017 and 2018, assuming that Marigold cannot exercise significant influence over Kulikowski (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above