In January 2017, the management of Kinzie Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred.

Feb. 1Purchased400shares of Muninger common stock for $20,000.Mar. 1Purchased600shares of Tatman common stock for $13,800.Apr. 1Purchased30$1,000,5% Yoakem bonds for $30,000. Interest is payable semiannually on April 1 and October 1.July 1Received a cash dividend of $0.50per share on the Muninger common stock.Aug. 1Sold133shares of Muninger common stock at $60 per share.Sept. 1Received a $1per share cash dividend on the Tatman common stock.Oct. 1Received the semiannual interest on the Yoakem bonds.Oct. 1Sold the Yoakem bonds for $29,000.

At December 31, the fair value of the Muninger common stock was $51per share. The fair value of the Tatman common stock was $22per share.

Prepare the adjusting entry at December 31, 2017, to report the investments at fair value. All securities are considered to be trading securities.