In January 2020, the management of Pharoah 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. 1		Purchased 700 shares of Muninger common stock for $35,000.
Mar. 1		Purchased 900 shares of Tatman common stock for $22,500.
Apr. 1		Purchased 40 $1,160, 7% Yoakem bonds for $46,400. Interest is payable semiannually on April 1 and October 1.
July 1		Received a cash dividend of $0.50 per share on the Muninger common stock.
Aug. 1		Sold 233 shares of Muninger common stock at $60 per share.
Sept. 1		Received a $2 per share cash dividend on the Tatman common stock.
Oct. 1		Received the semiannual interest on the Yoakem bonds.
Oct. 1		Sold the Yoakem bonds for $45,400.

At December 31, the fair value of the Muninger common stock was $51 per share. The fair value of the Tatman common stock was $24 per share.

Date Account Titles and Explanation Debit Credit Feb. 1 Stock Investments 35,000 Cash 35,000 Mar. 1 Stock Investments 22,500 Cash 22,500 Apr. 1 46,400 Debt Investments Cash 46,400 July 1 Cash 350 Dividend Revenue 350 Aug. 1 Cash 13980 Stock Investments 11650 Gain on Sale of Stock Investments 2330 Sept. 1 Cash 1800 Dividend Revenue 1800 Oct. 1 Cash 1624 Interest Receivable 1624 (To record the receipt of semiannual interest on Yoakem bonds) Oct. 1 Cash 45,400 1000 Loss on Sale of Debt Investments Debt Investments 44400 (To record the sale of Yoakem bonds) Stock Investments Feb. 1 35,000 Aug. 1 11650 22,500 Mar. 1 Dec. 31 Bal Debt Investments Apr. 1 Oct. 1 Dec. 31 Bal. Prepare the adjusting entry at December 31, 2020, to report the investment securities at fair value. All securit trading securities. (Credit account titles are automatically indented when amount is entered. Do not i entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 Unrealized Gain or Loss-Income Fair Value Adjustment-Trading Show the balance sheet presentation of investment securities at December 31, 2020. Pharoah Company Balance Sheet (Partial) December 31, 2020 Current Assets Short-term Investments $ Give the statement classification of each income statement account