04:02 44 min. Exercise 16-10 At December 31, 2017, the trading securities for Storrer, Inc. are as follows. Security Cost Fair Value $17,500 $15,800 12,200 14,200 19,400 $52,200 $49,400 22,500 Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account title enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Show the balance sheet and income statement presentation at December 31, 2017, after adjustment to fair value Storrer, Inc. Balance Sheet (Partial) Storrer, Inc. Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work