On December 21, 2025, Cheyenne Company provided you with the following information regarding its equity investments. December 31, 2025 Fair Value Unrealized Gain (Loss) Investments Cost Clemson Corp. stock $20,200 $19,300 $(900) Colorado Co. stock 9,900 8,900 (1.000) Buffaloes Co. stock 20,200 20,790 590 Total of portfolio $50,300 $48,990 (1,310) Previous fair value adjustment balance 0 Fair value adjustment-Cr. $(1,310) During 2026, Colorado Co. stock was sold for $9,410. The fair value of the stock on December 31, 2026, was Clemson Corp. stock- $19,410; Buffaloes Co. stock-$20,700. None of the equity investments result in significant influence. (a) Prepare the adjusting journal entry needed on December 31, 2025. (b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2026. (c) Prepare the adjusting journal entry needed on December 31, 2026. (List all debit entries before credit entries. 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.) Date Account Titles and Explanation ber 31, 2025 Unrealized Holding Gain or Loss - Income Fair Value Adjustment nber 31, 2026 Cash Loss on Sale of Investments Equity Investments ber 31, 2026 v Fair Value Adjustment Unrealized Holding Gain or Loss-Income Debit 1310 9410 4901 Credit 1310 9900