Journalize mock investment transactions and show statement presentation P16.5A (LO 2, 3) Financial Statement The following securities are in Frederick Company's port- folio of long-term securities at December 31, 2020. Cost 1,000 shares of Willhite Corporation common stock $52,000 1,400 shares of Hutcherson Corporation common stock 84,000 1,200 shares of Downing Corporation preferred stock 33,600 On December 31, 2020, the total cost of the portfolio equaled total fair value. Frederick had the follow- ing transactions related to the securities during 2021. Jan. 20 Sold all 1,000 shares of Willhite Corporation common stock at $55 per share. 28 Purchased 400 shares of $70 par value common stock of Liggett Corporation at $78 per share. 30 Received a cash dividend of $1.15 per share on Hutcherson Corp.common stock. Feb. 8 Received cash dividends of $0.40 per share on Downing Corp. preferred stock. 18 Sold all 1,200 shares of Downing Corp. preferred stock at $27 per share. July 30 Received a cash dividend of $1.00 per share on Hutcherson Corp. common stock. Sept. 6 Purchased an additional 900 shares of $10 par value common stock of Liggett Corporation at $82 per share. Dec. 1 Received a cash dividend of $1.50 per share on Liggett Corporation common stock. 16-30 CHAPTER 16 Investments At December 31, 2021, the fair values of the securities were: Hutcherson Corporation common stock $64 per share Liggett Corporation common stock $72 per share Instructions a. Prepare journal entries to record the transactions. b. Post to the investment account. (Use a T-account.) c. Prepare the adjusting entry at December 31, 2021 to report the portfolio at fair value. d. Show the balance sheet presentation at December 31, 2021, for the investment-related accounts, a. Loss on sale of stock investment $1,200 C. Unrealized loss $5,800