During the course of your examination of the financial statements of Poppler Corporation for the year ended December 31, 2015, you found a new account, "Investments." Your examination revealed that during 2015, Poppler began a program of investments, and all investment-related transactions were entered in this account. Your analysis of this account for 2015 follows: Poppler Corporation Analysis of Investments For the Year Ended December 31, 2015 Date2015 Debit Credit (a) Harmon Company Common Stock Feb. 14 Purchased 4,000 shares @ $55 per share. $220,000 July 26 Received 400 shares of Harmon Company common stock as a stock dividend. (Memorandum entry in general ledger.) Sept. 28 Sold the 400 shares of Harmon Company common stock received July 26 @ $60 per share. $24,000 (b) Debit Credit Taber Inc., Common Stock Apr. 30 Purchased 20,000 shares @ $40 per share. $800,000 Oct. 28 Received dividend of $1 per share. $20,000 Additional information: 1. The fair value for each security as of the 2015 date of each transaction follow: Security Feb. 14 Apr. 30 July 26 Sept. 28 Dec. 31 Harmon Company $55 $62 $60 $64 Taber Inc. $40 33 Doppler Corp. 25 28 30 33 35 2. All of the investments of Poppler are nominal in respect to percentage of ownership (5% or less). 3. Each investment is considered by Popplers management to be available-for-sale. Instructions (1) Prepare any necessary correcting journal entries related to investments (a) and (b). (2) Prepare the entry, if necessary, to record the proper valuation of the available-for-sale equity security portfolio as of December 31, 2015