The investments of Harlon Enterprises included the following cost and fair value amounts ($ in millions):

Harlon accounts for its equity investment portfolio at fair value through net income. Harlon sold its holdings of A Corporation shares on June 1, 2019, for $15 million. On September 12, it purchased the C Corporation shares.
Required:
1. What is the effect of the sale of the A Corporation shares and the purchase of the C Corporation shares on Harlon's 2019 pretax earnings?
2. At what amount should Harlon's securities equity investment portfolio be reported in its 2019 balance sheet?

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Fair Value, Dec. 31 Equity Investments A Corporation shares B Corporation bonds C Corporation shares D Industries shares Cost 2018 2019 $ 20 35 15 45 $115 $14 35 na 46 $95 na $ 37 50 $101 Totals