E17-11 (Equity Investment Entries and Financial Statement Presentation) At December 31, 2015, the equity investment portfolio for Wenger, Inc. is as follows. Investment_Cost FVale Unrealized Gain Loss $17,500 12,500 23,000 $53,000 $15.000 14.000 25.500 $54,500 ($2,500) 1,500 2,500 1,500 Total Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. $1,300 On January 20, 2016, Wenger, Inc. sold investment A for $15,300. The sale proceeds are net of brokerage fees