Crane Corporation made the following cash purchases of securities during 2020, which is the first year in which Crane invested in securities. 1. On January 15, purchased 12,600 shares of Sanchez Company's common stock at $33.50 per share plus commission $2,504. 2. On April 1, purchased 6,300 shares of Vicario Co's common stock at $52 per share plus commission $4,237. 3. On September 10, purchased 8,820 shares of WTA Co.'s preferred stock at $26.50 per share plus commission $6,182. On May 20, 2020, Crane sold 4,536 shares of Sanchez Company's common stock at a market price of $35 per share less brokerage commissions, taxes, and fees of $4,851. The year-end fair values per share were Sanchez $30, Vicario $55, and WTA $28. In addition, the chief accountant of Crane told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases. (a) (b) (c) Your answer is partially correct. Compute the unrealized gains or losses. (Round answer to 0 decimal places, e.g. 2,500.) Unrealized Losses $ Prepare the adjusting entries for Crane on December 31, 2020. (Round answers to 0 decimal places, e.g. 2,500. 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 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Unrealized Holding Gain or Loss -Income Fair Value Adjustment e Textbook and Media