Adjust FVA at Year$-$End.

On November $1$ of Year $1,$ Drucker Co$.$ acquired the following investments in equity securities measured at FV$-$NI$.$

Kelly Corporation $800$ shares of common stock $($no$-$par$)$ at $$60$ per share

Keefe Corporation $480$ shares preferred stock $($$$10$ par$)$ at $$20$ per share

On December $31,$ the company's year$-$end, the quoted market prices were as follows: Kelly Corporation common stock, $$52,$ and Keefe Corporation preferred stock, $$24.$

Following are the data for the following year $($Year $2).$

Mar. $02$: Dividends per share, declared and paid: Kelly Corp., $$1,$ and Keefe Corp., $$0\mathrm{.}50.$

Oct. $01$: Sold $160$ shares of Keefe Corporation preferred stock at $$25$ per share.

Dec. $31$: Fair values: Kelly coe. Indicate items and amounts that should be reported on the Year $2$ income statement and year$-$end balance sheet. Note: Use a negative sign to indicate a loss.

$\backslash$table$[[$Income Statement,Year $2],[$Other Revenues$($Expenses$),],[$Dividend revenue,$1,040],[$Net gain $($loss$)$ on equity securities$,0$mmon, $$46$ per share, Keefe preferred, $$26$ per share.

For Year $2,$ Please help for requirement d & e$.$

d$.$ Prepare the entries required in Year $2$ to record dividend revenue, the sale of stock, and the fair value adjustment. Assume that the Fair Value Adjustment account needs to be adjusted for the investment portfolio on

December $31,$ Year $2.$