At December 31, 2015, the trading investments for Yanik Inc. are as follows:

Instructions
(a) Prepare the adjusting entry at December 31 to report the trading investment portfolio at fair value.
(b) Show the financial statement presentation of the trading investments and any related accounts at December 31, 2015.
(c) On March 22, 2016, Yanik sold security A for $22,000 cash. Record the sale of the security?

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Fair Value $21,000 14,000 19,000 S54,000 Security Cost $18,500 12,500 21,000 $52,000 Totals