Exercise 17-15 Grouper Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method Cost Fair Value $69,900 173,900 64,600 $308,400 Investments 1,500 shares of Gordon, Inc., Common 5,000 shares of Wallace Corp., Common 400 shares of Martin, Inc., Preferred $74,100 178,400 63,200 $315,700 All of the securities were purchased in 2017 In 2018, Grouper completed the following securities transactions March 1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200 April 1 Bought 700 shares of Earnhart Corp., Common, $75 plus fees of $1,300 Grouper's portfolio of equity securities appeared as follows on December 31, 2018 Cost Fair Value $173,900 50,300 61,400 $285,600 Investments 5,000 shares of Wallace Corp., Common 700 shares of Earnhart Corp., Common 400 shares of Martin, Inc., Preferred $178,400 53,800 63,200 $295,400 Prepare the general journal entries for Grouper Company for: (a) (b) The 2017 adjusting entry The sale of the Gordon stoc