On December 31, 2021, the end of its first year of operations. Crane Associates owned the following securities, that are held as a long- term investments. The securities are not held for influence or control of the investee. Shares Cost Common Stock Gehring Co. Wooderson Co. 2.100 $58.800 4.900 44.100 Kitselton Co. 1.400 28,000 On December 31, 2021, the total fair value of the securities was equal to its cost. In 2022, the following transactions occurred. Aug 1 Sept. 1 Oct. 1 Received $0.50 per share cash dividend on Gehring Co.common stock Sold 1,470 shares of Wooderson Co. common stock for cash at $8 per share. Sold 840 shares of Gehring Co.common stock for cash at $31 per share. Received $2 per share cash dividend on Kitselton Co.common stock. Received $0.50 per share cash dividend on Gehring Co. common stock. Received $2 per share annual cash dividend on Wooderson Co.common stock Nov. 1 Dec. 15 Dec. 31 At December 31, the fair values per share of the common stocks were: Gehring Co. $30. Wooderson Co. $8, and Kitselton Co. $18. These investments should be classified as long-term Prepare the adjusting entry at December 31, 2022, to show the securities at fair value. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31 Unrealized Gain or Loss-Equity Fair Value Adjustment-Trading e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Show the balance sheet presentation of the investments at December 31, 2022. At this date. Crane Associates has common stock $1,546,000 and retained earnings $1.063.000. Crane Associates Balance Sheet (Partial) $