3.5/5 The following information is available for Monty Company at December 31, 2020, regarding its investments. Securities Cost Fair Value 500 shares of Runner Corporation common stock $25,000 $41,000 6,800 shares of Sher-tor Corporation preferred stock 624,000 592,000 $649,000 $633,000 (a) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as trading. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tips enter Ofor the amounts.) Account Titles and Explanation Debit Credit 16000 Unrealized Holding Gain or Loss -Income 16000 (6) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as available-for-sale. (Credit account tit automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account title enter for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as available-for-sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Fair Value Adjustment 16000 Unrealized Holding Gain or Loss - Equity 16000