E$16\mathrm{.}11($LO $3),$ AP Financial Statement Writing At December $31,2022,$ available$-$for$-$sale debt securities

for Storrer, Inc. are as follows. The securities are considered to be a long$-$term investment.

Instructions

a$.$ Prepare the adjusting entry at December $31,2022,$ to report the securities at fair value.

b$.$ Show the statement presentation at December $31,2022,$ after adjustment to fair value.