Coop Company holds 15% of the ordinary shares of Nor Company, and it does not have significant influence over the operations of Nor. The assistant financial controller prepares the 2019 adjusting entries using fair value rule. He has gathered the following information: 1. Coop has trading equity investments related to Danny Motors and Peter Electric. In this fiscal year, Coop purchased 100.000 shares of Danny Motors for $2.800,000; these shares now have a fair value of $3,200,000. Coop's investment in Peter Electric has not been profitable the company acquired 50,000 shares of Peter Electric in March 2019 at $40 per share, a purchase that currently has a value of $1.440,000 2. Before 2019, Coop invested $45,000,000 in Nor Company and has not changed its holdings this year. The investment in Nor Company is valued at $43,000,000 on 31 December 2018. Coop's 15% ownership of Nor Company had a fair value of $44.450,000 by year end of 2019 Required: (a) Prepare adjusting journal entries for Coop as of 31 December 2019 to reflect the calculation of the fair value for both classes of investment described. (13 marks) (b) In case unrealized holding gain or loss for trading equity investments, explain how it should be treated in Coop's financial statements for the year ended 31 December 2019. (5 marks) (c) For accounting of investments in Nor Company, explain which statement section and specific account are to be used in case of unrealed holding gain or loss