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Kitty Company began operations in 2016 and maintains short-term investments in trading securities. The year-end cost and fair values for its portfolio of these investments

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Kitty Company began operations in 2016 and maintains short-term investments in trading securities. The year-end cost and fair values for its portfolio of these investments follow. Portfolio of Trading Securities December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 Cost Fair Value $47 47 65 $40 56 79 60 Prepare journal entries to record each December 31 year-end fair value adjustment for these above securities

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