On December 31, 2021, the end of its first year of operations, Wildhorse Associates owned the following securities that are held as long-term investments. Common Stock Shares Cost C Co. 1,060 $54,060 DCo. 5,290 37,030 E Co. 1,236 25,956 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2022, the following transactions occurred. July 1 Aug 1 Sept. 1 Oct. 1 Nov. 1 Dec. 15 Received $2.00 per share semiannual cash dividend on D Co. common stock. Received $0.50 per share cash dividend on C Co. common stock. Sold 1,060 shares of D Co. common stock for cash at $10 per share. Sold 328 shares of C Co. common stock for cash at $52 per share. Received $1 per share cash dividend on E Co. common stock. Received $0.50 per share cash dividend on C Co. common stock. D Co. 5,290 37,030 E Co. 1,236 25,956 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2022, the following transactions occurred. 4 Received $2.00 per share semiannual cash dividend on D Co. common stock. July 1 Aug- 1 Received $0.50 per share cash dividend on C Co. common stock. 1 Sept. Oct. 1 Nov. 1 Dec. 15 Sold 1,060 shares of D Co. common stock for cash at $10 per share. Sold 328 shares of C Co. common stock for cash at $52 per share. Received $1 per share cash dividend on E Co. common stock. Received $0.50 per share cash dividend on C Co. common stock. 31 Received $2.20 per share semiannual cash dividend on D Co. common stock. At December 31, the fair values per share of the common stocks were C Co. $50, D Co. $6.80, and E Co. $25. These investments should be classified as long-term. Prepare the adjusting entry at December 31, 2022, to show the securities at fair value. Wildhorse has less than a 20% ownership interest in all these common stocks (C Co., D Co., and E Co.). (Credit account titles are automatically indented when the 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 Dec. 31 Debit Credit