Canalle Corporation has the following portfolio of long-term available-for sale securities at year end, December 31, 2010:

Both the Unrealized Loss on Long-Term Investments account and the Allowance to Adjust Long-Term Investments to Market account currently have a balance of $80,000 from the last accounting period. Prepare T accounts with a beginning balance for each of these accounts. Record the effects of the above information on the accounts and determine the ending balances.

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Percentage of Voting Stock Held 4 Year-End Cost Market Value Company K Corporation $160,000 750,000 60,000 $970,000 $190,000 550,000 110,000 12 L Corporation M Corporation Total $850,000