Hey Expert! I cant figure out this question: Chapter. 11, problem 28E. Book: Introduction to Financial Accounting 11th edid.

Can you help me out with calucaltions, explanation?

Chapter 11, Problem 28E Bookmark Show all steps: ON Problem The Lapinski Company has a portfolio of trading securities consisting of common and preferred stocks. The portfolio cost $160 million on January 1. The market values of the portfolio were as follows ($ in millions): March 31, $155; June 30, $135; September 30, $152; and December 31, $160 1. Prepare a tabulation showing the balance sheet presentations and income statement presentations for quarterly reporting purposes 2. Show the journal entries for quarters 1, 2, 3, and 4