Bharat Corporation purchased 48% of Ferris Corporation for $108.000 on January 1, On October 17 of the same year Ferris Corporation dedared total cash dvidends of $20,000 Ar end, Femis Corporation reported net Income of $68.000 The balance in the Bharrat Corpcration's Long Term nvestment-Fens account at December 31 should be Mutbiple Choice 131,040 98.400 $140 640 184.960 $108000 Journ Co purchased short-term investments in available-for-sale securities at a cost of $75.000 on November 25, 2017 At December 31 2017, these securities had a fair value of $69,500. This is the first and only time the company has purchased such securities 1.& 3. Prepare the December 31, 2017 year-end adjusting entry for the securities' portfolio and the April 6, 2018, entry when Journ sells one-half of these securities for $39,000 View transaction list Journal entry worksheet 2 Record the fair vale adjustment for the securities at December 31, 2017. Note: Enter debits before credits Date General Journal Debit redit Dec 31, 2016