Icatior eBook Calculator Fair Value Journal Entries, Available for Sale investments Storm, Inc. purchased the following available for sale securities during 2049, its first year of operations: Name Number of Shares Cost Dust Devil, Inc. $31,680 Gale Co 35,050 Whirlwind Co 65,100 $131,830 The market price per share for the available for sale security portfolio on December 31, 2049 was as follows: Market Price per Share Dec 31, 2016 Dust Devil, Inc. $31 Gale Co. Whirlwind Co. a. Provide the journal entry to adjust the available for sale security portfolio to fair value on December 31, 2019. 2099 Dec. 31 b. Is there any impact of December 31, 2019 journal entry on the income statement? any unrealized gain/loss is reported of the OBI Page 9