Becket Ltd. bought 3,000 common shares of Quality Drug Mart at $57 each, 610 common shares of Southem Bank (SB) at $42.50, and 1,400 common shares of EnTop at $93.40, all as non-strategic investments. At December 31, TSX Online reports Quality's shares at $48.20, SB's shares at $32.75, and EnTop's shares at $55.94. The company reports changes in fair value through other comprehensive income. Requirements 1. Determine the cost and the fair value of the long-term investment portfolio at December 31. 2. Record Becket's adjusting entry at December 31. 3. What would Becket report on its income statement and balance sheet for the information given? Make the necessary disclosures. Ignore income tax. Requirement 1. Determine the cost and the fair value of the long-term investment portfolio at December 31. Stock Quality Southern Bank EnTop Totals Number of shares Cost per share Fair value Total Total cost per share fair value