Question: On January 1 , 2 0 1 9 , Valuation Allowance for Trading Investments had a zero balance. On December 3 1 , the cost

On January 1,2019, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $69,800, and the fair value was $70,700.
a. What is the value of the investment reported on the balance sheet as of December 31,2019?[Blank #1]
b. Calculate the valuation allowance for investments as of December 31,2019.

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