On December 21, 2017, Ivanhoe Company provided you with the following information regarding its equity investments. Unrealized Gain (Loss) December 31, 2017 Investments (Trading) Fair Cost Value Clemson Corp. stock $21,100 $20,100 Colorado Co. stock 9,400 8,400 Buffaloes Co, stock 21.100 21,680 Total of portfolio $51,600 $50,180 Previous fair value adjustment balance Fair value adjustment-Cr. $(1,000) (1,000 580 (1,420) $(1,420) During 2018, Colorado Company stock was sold for $8,860. The fair value of the stock on December 31, 2018, was Clemson Corp. stock-$20,190; Buffaloes Co. Stock-$21,580. None of the equity investments result in significant influence. (a) (b) (c) Prepare the adjusting journal entry needed on December 31, 2017. Prepare the journal entry to record the sale of the Colorado Co. stock during 2018, Prepare the adjusting journal entry needed on December 31, 2018 (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit