Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Sheridan, Inc. is as follows Unrealized Security Cost Fair Value Gain (Loss) $30,625 21,875 40,250 $92,750 $26,250 24,500 44,625 $95,375 $(4,375) 2,625 4,375 2,625 700 $1,925 Total Previous fair value adjustment balance-Dr Fair value adjustment-Dr On January 20, 2018, Sheridan, Inc. sold security A for $26,425. The sale proceeds are net of brokerage fees