4. Prepare the journal entries for the following transactions for Morgan Co. Morgan Co. purchased 23,000 shares of the total of 100,000 outstanding shares of Gordon Corp. stock for $10 per share plus a $400 commission. Gordon Corp.'s total earnings for the period are $80,000. (a) (b) Gordon Corp. paid a total of $45,000 in cash dividends. (c) 5. The cost and fair value of the trading securities held by AdBrand Company as of December 31, 2012 are as follows: Number of Cost Shares 1,200 Fair Value per Share Total Fair Value per Share $10.50 Total Cost Name Alcorm, Inc. Bristen Corp. Geston Company Quanter Company Total Required: S11.05 600 9.00 9.85 900 4.10 4.00 400 7.35 6.82 (1) Complete the table above to find the total cost and fair value for the company's trading securities portfolio. (2) Calculate and record the required December 31, 2012 adjustment. (3) Explain how the adjustment from step (2) is reported on AdBrand's 2012 financial state |statements