On $1/1/20$X$1,$ Illini Company acquires $$50,000$ of $3\%$ three$-$year bonds at the face amount and classifies the bonds acquired as available$-$for$-$sale $($AFS$)$ securities$.$ The bonds pay interest annually on $12/31.$ On $12/31/20$X$1,$ the bonds have a fair value of $$54,000.$ On $1/1/20$X$2,$ Illini sells the bonds for $$52,000.$

$20$X$1$ Short Term Investments:

$20$X$1$ Long Term Investments:

$20$X$2$ Short Term Investments:

$20$X$2$ Long Term Investments:

On $12/20/20$X$1,$ Illini Company acquired $5\%$ of Steeler's capital stock for $$40,000$ as a short$-$term investment. The securities are classified as fair value through net income or trading securities$.$ On $12/29/20$X$1,$ Steeler declared and pays a dividend of $$40,000$ to all shareholders. Steelers net income for the year $20$X$1$ is $$100,000.$ On $12/31/20$X$1,$ the investment had a fair value of $$38,000.$ On $1/1/20$X$2,$ Illini sells the securities for $$42,000.$

$20$X$1$ Short Term Investments:

$20$X$1$ Long Term Investments:

$20$X$2$ Short Term Investments:

$20$X$2$ Long Term Investments:

On $1/1/20$X$1,$ Illini Company acquired $40\%$ of Raven's capital stock for $$20,000.$ The investment gives Illini the ability to exercise significant influence over Raven$$s operations. Raven's net income for the year $20$X$1$ is $$10,000.$ On $12/31/20$X$1,$ the investment has a fair value of $$18,000.$ During $20$X$1,$ Raven declares and pays a dividend of $$5,000$ to all shareholders. On $5/1/20$X$2,$ Illini sells the securities for $$20,000.$

$20$X$1$ Short Term Investments:

$20$X$1$ Long Term Investments:

$20$X$2$ Short Term Investments:

$20$X$2$ Long Term Investments: