O Brien Industries Inc is a book publisher The comparative

unclassified
O'Brien Industries Inc. is a book publisher. The comparative unclassified balance sheets for
December 31, 2017 and 2016 follow. Selected missing balances are shown by letters.Note 1.
Investments are classified as available for sale. The investments at cost and fair value on
December 31, 2016, are as follows:Note 2. The investment in Jolly Roger Co. stock is an equity
method investment representing 30% of the outstanding shares of Jolly Roger Co.The following
selected investment transactions occurred during 2017: May 5. Purchased 3,080 shares of
Gozar Inc. at $30 per share including brokerage commission. Gozar Inc. is classified as an
available-for-sale security.Oct. 1. Purchased $40,000 of Nightline Co. 6%, 10-year bonds at
100. The bonds are classified as available for sale. The bonds pay interest on October 1 and
April 1.9. Dividends of $12,500 are received on the Jolly Roger Co. investment. Dec. 31. Jolly
Roger Co. reported a total net income of $112,000 for 2017. O'Brien IndustriesInc. recorded
equity earnings for its share of Jolly Roger Co. net income.31. Accrued three months of interest
on the Nightline bonds.31. Adjusted the available-for-sale investment portfolio to fair value,
using the following fair value per-share amountsAvailable-for-Sale
Investments....................................Fair ValueBernard Co. stock ........................................$15.40
per shareChadwick Co. stock ......................................$46.00 per shareGozar Inc. stock
..........................................$32.00 per shareNightline Co. bonds .......................$98 per $100 of
face amount31. Closed the O'Brien Industries Inc. net income of $146,230. O'Brien Industries
Inc. paid no dividends during the year.InstructionsDetermine the missing letters in the
unclassified balance sheet. Provide appropriate supporting calculations.View Solution: O Brien
Industries Inc is a book publisher The comparative unclassified
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