Headland Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): (1) 3,100 shares of Anderson Co. common stock which cost $62,000, (2) 10,500 shares of Munter Ltd. common stock which cost $609,000, and (3) 6,200 shares of King Company preferred stock which cost $266,600. The Fair Value Adjustment account shows a credit of $9,300 at the end of 2020. In 2021, Headland completed the following securities transactions. 1. 2. On January 15, sold 3,100 shares of Anderson's common stock at $22 per share less fees of $2,190. On April 17, purchased 1,000 shares of Castle's common stock at $33 per share plus fees of $1,990. On December 31, 2021, the market prices per share of these securities were Munter $65, King $40, and Castle $24. In addition, the accounting supervisor of Headland told you that, even though all these securities have readily determinable fair values, Headland will not actively trade these securities because the top management intends to hold them for more than one year. (a)