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- Unit IV Knowledge Check Question 5 of 10 - / 10 ... Pat Ernst is the controller of Sheridan, Inc. At December 31, the end of its first year of operations, the company's investments in trading debt securities cost $75,300 and have a fair value of $70,800. Indicate how Pat would report these data in the financial statements prepared on December 31. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $ eTextbook and Media Solution Assistance Used Pat should report the data as follows: (1) Under current assets in the balance sheet: Debt investments, at fair value $ 70,800 (2) Under other expenses and losses in the income statement: Unrealized loss $ (4,500) Save for Later Attempts: 0 of 3 used Submit