E17-16 (Equity Investments-Trading) Swanson Company has the following trading investment portfolio on December 31, 2015 Investments (Trading) 1,500 ordinary shares of Parker, Inc. 5,000 ordinary shares of Beilman Corp. 400 preference shares of Duncan, Inc. Cost 71,500 180,000 Fair Value 69,000 175,000 61,600 305,600 60,000 2311,500 All of the investments were purchased in 2015. In 2016, Swanson completed the following investment March 1 Sold the 1,500 ordinary shares of Parker, Inc., 45 less fees of 1,200. April 1 Bought 700 ordinary shares of McDowell Corp., 75 plus fees of 1,300. Swanson Company's portfolio of trading investments appeared as follows on December 31, 2016. Investments (Trading) 5,000 ordinary shares of Beilman Corp. 700 ordinary shares of McDowell Corp. 400 preference shares of Duncan, Inc. Cost 180,000 52,500 60,000 292,500 Fair Value 175,000 50,400 58,000 283,400 Instructions Prepare the general journal entries for Swanson Company for: (a) The 2015 adjusting entry. (b) The sale of the Parker shares. (c) The purchase of the McDowell shares. (d) The 2016 adjusting entry for the trading portfolio