On 1 November 20X8, Porter Company acquired the following FVTPL investments: . Minto Corp.-2,800 common shares at $15 cash per share Pugwash Corp.-700 preferred shares at $25 cash per share The annual reporting period ends 31 December. Quoted fair values on 31 December 20X8 were as follows: Minto Corporation common. $12 Pugwash Corporation preferred, $29 The following information relates to 20X9: 2 March 1 October Received cash dividends per share as follows: Minto Corporation, $2.30; and Pugwash Corporation, $1.10. Sold 170 shares of Pugwash Corporation preferred at $32 per share. Fair values were as follows: Minto common, $21, and Pugwash preferred, $28. 31 December Required: 1. Prepare the entry for Porter Company to record the purchase of the securities. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet > 1 Record the acquisition of investment. Note: Enter debits before credits. Date General Journal Debit Credit 1 Nov. 20X8 Record entry Clear entry View general journal 2. Prepare the adjusting entries needed at the end of 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the holding loss/gain on Pugwash Co. Shares. Note: Enter debits before credits. Debit Credit General Journal Date 31 Dec. 20X8 View general journal Clear entry Record entry 3. Show the amount that would be reported in 20X8 earnings and the asset amounts on the statement of financial position. Earnings, 20X8: Statement of financial position, 31 December 20X8: FVTPL investments, at fair value 4. Prepare the all entries required in 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet