Grass Security, which began operations in 2013, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity. 2013 Jan. 20 Purchased 1,000 shares of Johnson & Johnson at $ 20.50 per share plus a $ 240 commission. Feb. 9 Purchased 1,200 shares of Sony at $ 46.20 per share plus a $ 225 commission. June 12 Purchased 1,500 shares of Mattel at $ 27.00 per share plus an $ 195 commission. Dec. 31 Per share fair values for stocks in the portfolio are Johnson & Johnson, $ 21.50; Mattel, $ 30.90; Sony, $ 38. 2014 Apr. 15 Sold 1,000 shares of Johnson & Johnson at $ 23.50 per share less a $ 525 commission. July 5 Sold 1,500 shares of Mattel at $ 23.90 per share less a $ 235 commission. July 22 Purchased 600 shares of Sara Lee at $ 22.50 per share plus a $ 480 commission. Aug. 19 Purchased 900 shares of Eastman Kodak at $ 17 per share plus a $ 198 commission. Dec. 31 Per share fair values for stocks in the portfolio are: Kodak, $ 19.25; Sara Lee, $ 20.00; Sony, $ 35.00. 2015 Feb. 27 Purchased 2,400 shares of Microsoft at $ 67.00 per share plus a $ 525 commission. June 21 Sold 1,200 shares of Sony at $ 48.00 per share less a $ 880 commission. June 30 Purchased 1,400 shares of Black & Decker at $ 36.00 per share plus a $ 435 commission. Aug. 3 Sold 600 shares of Sara Lee at $ 16.25 per share less a $ 435 commission. Nov. 1 Sold 900 shares of Eastman Kodak at $ 22.75 per share less a $ 625 commission. Dec. 31 Per share fair values for stocks in the portfolio are: Black & Decker, $ 39.00; Microsoft, $ 69.00. Required 1. Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long- term available-for-sale securities. 2. Prepare a table that summarizes the (a) Total cost, (b) Total fair value adjustment, (c) Total fair value of the portfolio of long-term available-for-sale securities at each year- end. 3. Prepare a table that summarizes (a) The realized gains and losses (b) The unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end.