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At December 31, 2020, the end of its first year of operations, the trading securities for Pharoah AG are as follows. Security A Cost

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At December 31, 2020, the end of its first year of operations, the trading securities for Pharoah AG are as follows. Security A Cost Fair Value CHF 17,200 CHF 15,500 12,700 13,700 C CHF52,900 23,000 19,000 CHF48,200 B Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (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) Date Account Titles and Explanation Dec. 31 Fair Value Adjustment-Trading Unrealized Gain or Loss-Income eTextbook and Media List of Accounts Debit Credit Show the statement of financial position and income statement presentation at December 31, 2020, after adjustment to fair value. Pharoah AG Statement of Financial Position (Partial) For the Year Ended December 31, 2020 Current Assets Short-term Investments, at Fair Value CHF Pharoah AG Income Statement (Partial) For the Year Ended December 31, 2020 Other Revenues and Gains Unrealized Loss on Trading Securities CHF

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