Exercise 16-10 At December 31, 2017, the trading securities for Storrer, Inc. are as follows. Security Cost Fair Value A $17,900 $15,700 B 12,000 14,000 C 22,900 18,800 $52,800 $48,500 Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.

Show the balance sheet and income statement presentation at December 31, 2017, after adjustment to fair value.