At the beginning of the year of 2021, the management of Bitlife, Inc concludes that it has sufficient cash to permit some short-term investments in debt and share securities with 10% to 15%. During the year, the following transactions occurred are as followed. Jan 2 Purchased 300 ordinary shares of GothamCo. for $30,000. Feb 7 Purchased 550 ordinary shares of Scarlett, Inc for $38,500. June 4 Purchased at face value $2,500,000 of Goldman Corp 10 years, 8% bonds. Interest is payable semiannually on June 1 and December 1. Aug 16 Received a cash dividend of $2,5 per share on Gotham Co. ordinary shares. Sept 1 Sold 150 ordinary shares of Gotham Co. at $74 Nov 9 Received a cash dividend of $2 per share on Scarlett, Inc ordinary shares. Nov 30 Sold $750,000 the Goldman Corp bonds at 97. Dec 1 Received the semiannual interest on Goldman Corp. bonds. At December 31, the fair value of Gotham. Co ordinary shares was $90 per share. The fair value of Scarlett, Inc ordinary shares was $90 per share. Instructions a. Journalize the transactions (Assume all their investment are trading securities). b. Prepare the adjusting entry at Dec 31, 2021, and the table to report the investment securities at fair value.