Brooks Co. purchases various investments in trading securities at a cost of exist57,000 on December 27, 2015 (This is its first and only purchase of such securities.) At December 31, 2015, these securities had a fair value of exist70,000. Prepare the December 31, 2015, year-end adjusting entry for the trading securities' portfolio and the January 3, 2016, entry when Brooks sells a portion of its trading securities (that had originally cost exist28, 500) for exist31, 750. Record the fair value of the securities at December 31, 2015