For each case, describe how the information provided affects the classification, carrying value, and income reported for that company's investment securities.

Case 1:

An available-for-sale marketable equity security, whose market value is currently less than cost, is classified as noncurrent but is to be reclassified as current.

Case 2:

A company's noncurrent portfolio of marketable equity securities consists of the common stock of one company. At the end of the prior year, the market value of the security was 50% of original cost, and this effect was properly reflected in a Valuation Adjustment account. However, at the end of the current year, the market value of the security had appreciated to twice the original cost. The security is still considered noncurrent at year-end.