Dames Company often invests in the stock of other companies for long-term purposes. 1. None of the stocks currently held by Dames Company qualify for use of the equity method. 2. The following amounts relate to Dames Company 's long-term portfolio of marketable equity securities. 3. Based on the above information, prepare the adjusting entry on December 31, 2019 Dec. 31, 2018 Dec. 31, 2019 Total cost $560,000 $660,000 Total market 460,000 584,000