Here is Sandhill Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. Cost 1,000 shares of Willhite Corporation common stock $50,000 1,200 shares of Hutcherson Corporation common stock 75,600 1,100 shares of Downing Corporation preferred stock 30,800 On December 31, the total cost of the portfolio equaled the total fair value. Sandhill had the following transactions related to the securities during 2022. Jan. 20 Sold all 1,000 shares of Willhite Corporation common stock at $53 per share. 28 Purchased 510 shares of $70 par value common stock of Liggett Corporation at $78 per share. 30 Received a cash dividend of $1.15 per share on Hutcherson Corp. common stock. Feb. 8 Received cash dividends of $0.60 per share on Downing Corp. preferred stock. 18 Sold all 1,100 shares of Downing Corp. preferred stock at $27 per share. July 30 Received a cash dividend of $1.00 per share on Hutcherson Corp.common stock. Sept. 6 Dec. 1 Purchased an additional 820 shares of $10 par value common stock of Liggett Corporation at $82 per share. Received a cash dividend of $1.40 per share on Liggett Corporation common stock. At December 31, 2022, the fair values of the securities were: Hutcherson Corporation common stock $67 per share Liggett Corporation common stock $72 per share Date Account Titles and Explanation Debit Jan. 20 Cash Stock Investments Gain on Sale of Stock Investments Jan. 28 Stock Investments Cash Jan. 30 Cash Dividend Revenue Feb. 8 Cash Dividend Revenue Feb. 18 Cash Loss on Sale of Stock Investments Stock Investments July 30 Cash Dividend Revenue 53000 39780 1380 660 29700 1100 1200 Credit 50000 3000 39780 1380 660 30800 1200 Sept. 6 Stock Investments 67240 Cash Dec. 1 Cash Dividend Revenue 1862 67240 1862 (b) Your answer is partially correct. Post to the investment account. (Use T-accounts.) (Post entries in the order of journal entries presented in the previous part.) Stock Investments 1/20 12/31 Bal. eTextbook and Media (c) Your answer is partially correct. Prepare the adjusting entry at December 31, 2022 to report the portfolio at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Unrealized Gain or Loss-Income Unrealized Gain or Loss-Income eTextbook and Media Debit Credit (d) Show the balance sheet presentation at December 31, 2022, for the investment-related accounts. Sandhill Company Balance Sheet (Partial) Toythook and Media $ XXXXX $ XXXXX