Equity-Investments, Fair Value is Readily Determinable. Barney Equipment Corporation acquired the following equity investments at the beginning of Year 1. Barney does not have significant influence over the investees. Both companies are publicly traded. Description Boris Company Monterey Group Number of shares 10,550 8,355 Market price per share X $42 X 587 Share acquisition price $443,100 $726,885 Share prices at the end of Years 1 and 2 follow. Fair Value Boris Company Monterey Group End of Year 1 $78 End of Year 2 $43 $83 Required >> a. Prepare the journal entry to record the acquisition of the investments. b. Prepare the journal entry to record the end of Year 1 fair value adjustment. c. Assume that Barney sells 5,000 Boris Company shares for $50 per share at the beginning of Year 2. Prepare the journal entry required to record the sale. Barney does not correct the fair value adjustment account at this time. d. Prepare the journal entry to record the end of Year 2 fair value adjustment. $48