Brief Exercise 16-06 In its first year of operations, Carla Vista Corporation purchased, as a long-term investment, available for sale debt securities conting 569,500. At December 31, 2020, the fair va Securities is $64,550. Prepare the adjusting entry to record the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. I is required, select "No entry for the learenter for the ants) Debit Credit Date Account Titles and Explanation Dec. 31 Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total $16,600 25,200 20,050 59,850 (14,150 ) $107,550 $17,500 22,100 15,850 69,850 (10,200 ) $115,100 Accounts payable Bonds payable Common stock Retained earnings Total $14,350 10,000 49,900 33,300 $107,550 $11,050 30,200 44,700 29,150 Additional information: 1. Net income was $18,450. Dividends declared and paid were $ 14,300. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,100 was sold for $3,600. 3. No noncash investing and financing activities occurred during 2020