Hubble Corporation purchased the following securities on June 1, 2020.

5,000 common shares of Vega Corp: $80,000

10,000 common shares of Ursa Ltd: $91,000

Management decided to classify these investments as fair value through other comprehensive income. On December 31, 2020, the market value of the securities was:

5,000 common shares of Vega Corp: $69,500

10,000 common shares of Ursa Ltd: $92,500

On April 1, 2021, Hubble completed the following securities transaction:

Purchased 300 common shares of Pisces Corp. @ $50 each, plus fees of $550.

Hubble classified this investment as fair value through net income.

On December 31, 2021, the market values of Hubbles investments were:

5,000 common shares of Vega Corp: $78,000

10,000 common shares of Ursa Ltd. $99,250

300 common shares of Pisces Corp. $12,750

Assume all investments are passive investments.

Required:

Prepare the journal entries for:

a) the 2020 year-end adjusting entry for the 2020 investments,

b) the 2021 purchase of the Pisces Corp. shares,

c) the 2021 year-end adjusting entries.