Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations Name Number of Shares Cost Arden Enterprises Inc. 3,400 $64,260 French Broad Industries Inc 29,070 1,900 Pisgah Construction Inc. 400 10,000 $103,330 Total The market price per share for the trading security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1 Arden Enterprises Inc. $24 French Broad Industries Inc. 16 Pisgah Construction Inc. 23.5 a. Provide the journal entry to adjust the trading security portfolio to fair value on December 31, Year 1. If no entry is required, select "No entry required" and leave the amount boxes blank. Year 1, Dec. 31 b. Assume that the market prices of the portfolio were the same on December 31, Year 2, as they were on December 31, Year 1 What would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "No entry required" and leave the amount boxes blank. Year 2, Dec. 31