Respond to the Following Question with the Presumption That the Guidance

Respond to the following question with the presumption that the guidance provided by the new Accounting Standards Update is being applied.
Stanhope Associates holds the following investments:
1. 10 shares of Blackstone equity, held for long-term investment.
2. 10 shares of Erickson equity, held for risk management.
3. 10 shares of AT&E equity, held for immediate resale.
4. 10 bonds issued by Filo Inc., held for long-term investment.
5. 10 bonds of SimSung, held for risk management.
6. 10 bonds issued by Attachi, held for immediate resale.
Required:
For each investment, indicate: (a) the accounting approach that will be used to account for the investment, and briefly explain why that approach is appropriate, and (b) the effect on earnings of an increase in the fair value of the investment in the period following acquisition of the investment, assuming that Stanhope does not sell the investment. You may group the specific investments if they have the same answers. Identify the investments you are including in the group.