Response to the following questions:
1. Where are unrealized gains and losses on trading securities reported?
2. Give at least two examples of assets classified as long-term investments.
3. What are the requirements for an equity security to be listed as a long-term investment?
4. Identify similarities and differences in accounting for long-term investments in debt securities that are held-to-maturity versus those available-for-sale.
5. What are the three possible classifications of long-term equity investments? Describe the criteria for each class and the method used to account for each.