Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Blossom, Inc. are as follows. Security Cost $17,000 12,000 22,500 $51.500 Fair Value $15,500 13,500 18,500 $47.500 Your answer is partially correct. Try again Prepare the adjusting entry of December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Il ne entry is require select "Moetry for the account titles and enter for the amounts.) Date Axcent and Explanation Dec 31 rated in Los Income For Value Adjustment Stock (b) Show the balance sheet and income statement presentation at December 31, 2020, after adjustment to fair value. Blossom, Inc. Balance Sheet (Partial) December 31, 2020 Blossom, Inc. Income Statement (Partial)