EX 15-21 Fair value journal entries, available-for-sale investments Hurricane Inc. purchased a portfolio of available-for-sale securities in 2014, its first year of operations. The cost and fair value of this portfolio on December 31, 2014, was as follows: Name Number of Shares Total Cost Total Fair Value Tornado Inc. 800 $14,000 $15,600 Tsunami Corp. 1,250 31,250 35,000 Typhoon Corp. 2,140 43,870 42,800 Total $89,120 $93.400 On June 12, 2015, Hurricane purchased 1,450 shares of Rogue Wave Inc. at $45 per share plus a $100 brokerage fee. a. Provide the journal entries to record the following: 1. The adjustment of the available-for-sale security portfolio to fair value on December 31, 2014. 2. The June 12, 2015, purchase of Rogue Wave Inc. stock. b. How are unrealized gains and losses treated differently for available-for-sale securities than for trading securities? AR 3.4