part c

Indicate what accounts and amounts would be reported on the statement of comprehensive income for the year ended December 31, and where each would be reported

Current Attempt in Progress At December 31, 2020, the equity investments of Martinez Inc. that were accounted for using the FV-OCI model without recycling were as follows: Cost and Carrying Amount Fair Value Investment Unrealized Gain(Loss) $125,000 Ahn Inc $174.800 $149.800 Burnham Corp 121,100 139,300 18.200 Chi Ltd. 73,300 75.100 1.800 $369,200 $364,200 Total ${5.000 Because of a change in relationship with Ahn Inc, Martinez Inc sold its investment in Ahn for $154.100 on January 20, 2021 No other investments were acquired or sold during 2021, however, a dividend of $1.400 was received from Burnham Corp. In June At December 31, 2021, the fair values of Burnham and Chi shares were $154,600 and $72,400, respectively. Your answer has been saved. See score details after the due date Prepare the entry to adjust the portfolio of investments to fair value at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31 2020 Unrealized Cain or loss o 5000 FV-OC) Investments 5000 eTextbook and Media List of Accounts Altemnts of ined Prepare the presentation of all investment-related accounts on the statement of financial position at December 31, 2020. Assume that the balance of AOCI at December 31, 2019 is zero. (Enter negative amounts using either a negative sign preceding the number es. -2,945 or parentheses eg (2.9451) Martinez Inc. Statement of Financial Position > $ e Textbook and Media List of Accounts Stor Attempts: 0 of 1 used Submit