On December 31, 2016, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.

Common Stock		Shares		Cost
Gehring Co.		4000		$100000
Wooderson Co.		5000		30000
Kitselton Co.		3000		60000

On December 31, 2016, the total fair value of the securities was equal to its cost. In 2017, the following transactions occurred.

July	1		Received $1 per share semiannual cash dividend on Wooderson Co. common stock.
Aug.	1		Received $0.50 per share cash dividend on Gehring Co. common stock.
Sept.	1		Sold 1,500 shares of Wooderson Co. common stock for cash at $7 per share.
Oct.	1		Sold 600 shares of Gehring Co. common stock for cash at $30 per share.
Nov.	1		Received $1 per share cash dividend on Kitselton Co. common stock.
Dec.	15		Received $0.50 per share cash dividend on Gehring Co. common stock.
Dec.	31		Received $1 per share semiannual cash dividend on Wooderson Co. common stock.

At December 31, the fair values per share of the common stocks were: Gehring Co. $23, Wooderson Co. $7, and Kitselton Co. $19.

Journalize the 2017 transactions.

Prepare the adjusting entry at December 31, 2017, to show the securities at fair value. The stock should be classified as available-for-sale securities.

Show the financial statement presentation of all the investment accounts.