On December 21, 2020. Grouper Company provided you with the following information regarding its equity investments December 31, 2020 Investments (Trading) Cost Fair Value Unrealized Gain (Loss) Clemson Corp stock $19.600 $18,600 $(1.000) Colorado Co. stock 9.300 8,400 (900) Buffaloes Co. stock 19.600 20,170 570 Total of portfolio $48,500 $47,170 (11.330) Previous fair value adjustment balance 0 Fair value adjustment-Cr $11,330 During 2021. Colorado Co. stock was sold for $8,860. The fair value of the stockon December 31, 2021, was Clemson Corp. stock- $18,690, Buffaloes Co. stock-$20,060 None of the equity investments result in significant influence (a) Prepare the adjusting journal entry needed on December 31.2020 (b) 22 Prepare the journal entry to record the sale of the Colorado Co stock during 2021 Prepare the adjusting journal entry needed on December 31/2021 Fair value adjustment-Cr. $(1,330) During 2021, Colorado Co. stock was sold for $8,860. The fair value of the stock on December 31, 2021, was Clemson Corp. stock- $18.690: Buffaloes Co. stock-$20,060. None of the equity investments result in significant influence (a) Prepare the adjusting journal entry needed on December 31, 2020. (b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2021 (c) Prepare the adjusting journal entry needed on December 31, 2021 (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 (a) Unrealized Holding Gain or Loss-Income Fair Value Adjustment (b) Cash (c) Loss on Sale of Investments Equity Investments Fair Value Adjustment Unrealized Holding Gain or Loss-Income