Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2016.

	Cost	Fair Value
5,000 shares of Thomas Corp., Common	139,500	125,100
10,000 shares of Gant, Common	163800	171,000
	303,300	296,100

All of the securities had been purchased in 2016.

Instructions

Prepare the general journal entries for Korman Company for the 2016 including the adjusting entry, if any