In January 2022, the management of Kinzie Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities. During the year, the following transactions occurred. Feb. 1 Purchased 600 shares of Muninger common stock for $32,400. Mar. 1 Purchased 800 shares of Tatman common stock for $20,000. Apr. 1 Purchased 50 of $1,000, 7% Yoakem bonds for $50,000. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.60 per share on the Muninger common stock. Aug. 1 Sold 200 shares of Muninger common stock at $58 per share. Sept. 1 Received a $1 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 $49,000. At December 31, the fair value of the Muninger and Tatman common stocks were $55 and $24 per share respectively. These stock investments by Kinzie Company provide less than a 20% ownership interest. Question 1 of 1 < > Date Account Titles and Explanation Debit Feb. 1 Stock Investments Cash Mar. 1 Stock Investments Cash 32,400 20,000 Apr. 1 Debt Investments 50,000 Cash July 1 Cash Dividend Revenue Aug. 1 Cash Gain on Sale of Stock Investments Stock Investments 360 11,600 0.31/1 Credit 32,400 20,000 50,000 360 800 10,800 Question 1 of 1 < > Sept. 1 Cash Dividend Revenue Oct. 1 Cash Interest Revenue (To record the receipt of semiannual interest on Yoakem bonds) Oct. 1 Cash Loss on Sale of Debt Investments Debt Investments (To record the sale of Yoakem bonds) 800 1,750 49,000 1,000 0.31/1 800 1,750 50,000 Question 1 of 1 (lo record the sale of Yoakem bonds) Feb. 1 Mar. 1 Dec. 31 Bal. + Apr. 1 Dec. 31 Bal. Stock Investments 32,400 Aug. 1 10,800 20,000 41,600 Debt Investments 50,000 Oct. 1 50,000 0.31/1 E !!! (b) Your answer is partially correct. Prepare the adjusting entry at December 31, 2022, to report the investment securities at fair value. All securities are considered to be trading securities. (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 Cash Fair Value Adjustment-Stock eTextbook and Media Debit 400 400 Credit I I (c) Show the balance sheet presentation of investment securities at December 31, 2022. Kinzie Company Current Assets Balance Sheet (Partial) December 31, 2022 eTextbook and Media List of Accounts $