On December 21, 2020, Sunland 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 $18,400 $17,500 $(900 ) Colorado Co. stock 10,600 9,600 (1,000 ) Buffaloes Co. stock 18,400 19,010 610 Total of portfolio $47,400 $46,110 (1,290 ) Previous fair value adjustment balance 0 Fair value adjustmentCr. $(1,290 ) During 2021, Colorado Co. stock was sold for $10,110. The fair value of the stock on December 31, 2021, was Clemson Corp. stock$17,600; Buffaloes Co. stock$18,920. 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.