Question: Required information Use the following information for the Quick Study below. (Static) Skip to question [The following information applies to the questions displayed below.] Kitty

Required information Use the following information for the Quick Study below. (Static) Skip to question [The following information applies to the questions displayed below.] Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow. Trading Securities Cost Fair Value Tesla Bonds $ 12,000 $ 9,000 Nike Bonds 20,000 21,000 Ford Bonds 5,000 4,000 QS 15-5 (Static) Reporting trading securities on financial statements LO P1 (1) After the fair value adjustment is made, prepare the assets section of Kitty Companys December 31 classified balance sheet. (2) In which income statement section is the unrealized gain (or loss) on

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