Blue Company began operations in 2020. Since then, it has reported the following gains and losses for its equity investments in on the income statement:

2020 2021 2022

Gains (losses) from sale of securities $14,200 $(20,100) $14,300

Unrealized holding losses on valuation of securities (24,900) (14,900)

Unrealized holding gain on valuation of securities 10,600

At January 1, 2023, Blue owned the following trading securities:

Cost

BKD Common (16,000 shares @ $29) $464,000

LRF Preferred (1,700 shares @ $105) 178,500

During 2023, the following events occurred:

1. Sold 5,200 shares of BKD for $182,000.

2. Acquired 1,000 shares of Horton Common for $39 per share. Brokerage commissions totaled $1,000.

At 12/31/23, the fair values for Blue's investments were:

BKD Common, $27 per share

LRF Preferred, $110 per share

Horton Common, $44 per share

Compute the balance in the Fair Value Adjustment account at December 31, 2022 (after the adjusting entry for 2022 is made). (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Balance in fair value adjustment account $ (29200)

SHOW LIST OF ACCOUNTS Compute the aggregate cost and fair values for Blue's securities portfolio at 12/31/23. Aggregate cost $ Aggregate fair value $ SHOW LIST OF ACCOUNTS Prepare the necessary adjusting entry based upon your analysis in (b) above. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit 12/31/23