At the end of Tanya Corporations first year of business, it had the following equity investments which were all reported as Trading Securities:

	Cost	Fair Value
	12/31/10	12/31/10
Deyan Inc.	$150,800	$180,500
Chambers Education Inc.	$308,000	$296,000
Nandini Airways	$210,000	$205,000

On April 1, 2011, Tanya sold the investment in Nandini Airways for $300,000 and then on May 31, 2011 bought a 10% equity stake in Jet Air for $83,000. The Fair Values of Deyan, Chambers and Jet Air at December 31, 2011 were $200,000, $287,000 and $80,000 respectively.

Required:

Prepare the adjusting entry to record the investments at fair value at 12/31/10

Prepare the entry to record the sale on Nandini on April 1, 2011

Prepare the adjusting entry to record the investments at fair value at 12/31/11