Exercise 17-15 Indigo Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method Cost Investments 1,500 shares of Gordon, Inc., Common 5,000 shares of Wallace Corp., Common 400 shares of Martin, Inc., Preferred $72,500 176,300 63,300 $312,100 Fair Value $68,500 171,700 64,800 $305,000 All of the securities were purchased in 2017 In 2018, Indigo completed the following securities transactions March 1 April 1 Sold the 1,500 shares of Gordon, Inc., Common, Bought 700 shares of Earnhart Corp., Common, $45 less fees of $1,200. $75 plus fees of $1,300. Indigo's portfolio of equity securities appeared as follows on December 31, 2018 Investments 5,000 shares of Wallace Corp., Common 700 shares of Earhart Corp., Common 400 shares of Martin, Inc., Preferred Cost $176,300 53,800 63,300 $293,400 Fair Value $171,700 50,100 61,300 $283,100 Prepare the general journal entries for Indigo Company for: Prepare the general journal entries for Indigo Company for: (a) The 2017 adjusting entry. (b) The sale of the Gordon stock (c) The purchase of the Earhart stock. (d) The 2018 adjusting entry for the trading portfolio Entry ndent manually. I ne entry is required select for the accou n t (Credit account titles are automatically indented when amoun the amounts.) Debit Credit No. Account Titles and Explanation