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Clear hand writing please Wando Company reported retained earnings at December 31, 2019, of $410,000. Wando had 160,000 shares of common stock outstanding throughout 2020.

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Wando Company reported retained earnings at December 31, 2019, of $410,000. Wando had 160,000 shares of common stock outstanding throughout 2020. The following transactions occurred during 2020. 1. An error was discovered in the 2018 accounting records, depreciation expense was recorded at $60,000, but the correct amount was $50,000. 2. A cash dividend of $0.50 per share was declared and paid. 3. A 5% stock dividend was declared and distributed when the market price per share was $15 per share. 4. Net income was $225,000. Instructions Prepare a retained earnings statement for 2020. Plotner Corporation has the following trading portfolio of stock investments as of December 31, 2019 Cost Fair Security Value $19,000 $15,000 B 22,000 27,000 C 34,000 29,000 $75,000 $71,000 On January 22, 2020, Plotner Corporation sold security C for $32,000. Instructions (a) Prepare the adjusting entry for Plotner Corporation on December 31, 2019, to report the portfolio at fair value. (b) Indicate the balance sheet and income statement presentation of the fair value data for Plotner Corporation at December 31, 2019. (c) Prepare the journal entry for the 2020 sale

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