On December 31, 2017, Turn ball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee. On December 31, 2017, the total fair value of the securities was equal to its cost. In 2018 the following transactions occurred. Received $0.50 per share cash dividend on Gehrig Co. common stock. Sold 1, 500 shares of Wenderson Co. common stock for cash at $8 per share Sold 800 shares of Gehrig Co. common stock for cash at $33 per share Received $1 per share cash dividend on Kitselton Co. common stock. Received $0.50 per share cash dividend on Gehring Co. common stock Received $1 per share annual cash dividend on Wenderson Co. common stock. At December 31, the fair values per share of the common stocks were. Gehrig Co $32 Wooderson Co. $8. and Kitselton Co. $ 18 Journalize the 2018 transactions and post to the account Stock Investments. (Use the T-account form.) Prepare the adjusting entry at December 31, 2018, to show the securities at fair value. The stock should be classified as available-for-sale securities. Show the balance sheet presentation of the investments at December 31, 2018. At this date, Turn ball Associates has common stock $ 1, 500,000and retained earnings $1.000.000