E17-22 (L04) (Impairment) Elaina Company has the following investments as of December 31, 2017: Investments in common stock of Laser Company $1,500,000 Investment in debt securities of FourSquare Company $3,300,000 In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2017. Elaina's stock investments does not result in significant influence on the operations of Laser Company. Elaina's debt investment is consid- ered held-to-maturity. At December 31, 2018, the shares in Laser Company are valued at $1,100,000; the debt investment securi- ties of FourSquare are valued at $2,500,000. Assume that these investments are considered impaired. Instructions (a) Prepare the journal entries to record the impairment of these two securities at December 31, 2018. (b) Assuming the fair value of the Laser shares is $1,400,000 and the value of its debt investment is $2,950,000, what entries, if any, should be recorded in 2019 related to impairment? (c) Prepare the journal entries at December 31, 2018, assuming these securities are not impaired. (Ignore interest revenue entries.) (d) Assume that the debt investment in FourSquare Company was available-for-sale and the expected credit loss was $900,000. Prepare the iournal entry to record this impairment on December 31, 2018