Glaser Company carries the following investments on its books at December 31, 2020 and December 31, 2021. Available for-Sale securities are considered to be non-current. All securities were purchased and properly recorded during February 2020. You need to combine all trading and AFS securities into trading portfolio and AFS portfolio, respectively, while making the fair value adjustment entries.

			Market Value	Market Value
		Cost	12/31/2020	12/31/2021
Stock in A	Trading(TS)	$300	$ 250	$230
Stock in B	Trading (TS)	250	190	----
Stock in C	Available-for-sale (AFS)	400	430	445
Stock in D	Available-for-sale (AFS)	375	330	335

Required:

• Prepare the necessary fair value adjusting journal entries for Glaser on December 31, 2020.
• Assume Glaser sold its investment in B for $125 on December 15, 2021; prepare journal entries for sales of investment on December 15 and fair value adjusting journal entries on December 31, 2021.

• Ignoring income taxes and assuming both the retained earnings and accumulated other comprehensive income have a balance of 0 on December 31, 2019, complete the following schedule:

	December 31
	2020	2021
Income Statement:
Realized gains and losses on investments
Unrealized gains and losses on investments
Balance Sheet:
Current assets:
Investments at fair value-trading
Non-Current assets:
Investments at fair value-AFS
Stockholders' Equity
Retained earnings
Accumulated other comprehensive income