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During 2012, its first year of operations, Makala Company purchased two available-for-sale investments as follows:
Security
Shares Purchased
Cost
Oceanna Company
700
$29,000
Rockledge, Inc.
1,900
41,000
34,3005,300
38,0003,000
Assume that as of December 31, 2012, the Oceanna Company stock had a market value of $49 per share and Rockledge, Inc. stock had a market value of $20 per share.
Makala had 10,000 shares of no par stock outstanding that was issued for $150,000. For the year ending December 31, 2012, Makala had a net income of $105,000. No dividends were paid.
Required:
(1)
Prepare the Current Assets section of the balance sheet presentation for the available-for sale securities as of December 31, 2012.
(2)
Prepare the Stockholders’ Equity section of the balance sheet as of December 31, 2012.

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