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	Cost			Fair Value
December 31, 2016	$	79		$	56
December 31, 2017		63			88
December 31, 2018		81			111
December 31, 2019		98			76

Prepare journal entries to record each December 31 year-end fair value adjustment for these above securities.

(Please do not copy and paste the other answers from this question, they are not correct!)

here are my incorrect answers from the homework, I am having trouble figuring this out:

& Answer is complete but not entirely correct. General Journal Credit No 1 Date Dec 31, 2016 Debit 23 Unrealized gainIncome Fair value adjustmentTrading (ST) 23 2 Dec 31, 2017 25 Fair value adjustmentTrading (ST) Unrealized gainIncome 25 x Dec 31, 2018 31 X Fair value adjustmentTrading (ST) Unrealized gainIncome 31 x - Dec 31, 2019 Unrealized lossIncome 22 X Fair value adjustmentTrading (ST) 22 x Chapter 15