On November 1 of Year 1, Drucker Co, acquired the following investments in equity securities measured at FV.N1. Un uecember 3n, the companys year-end, the quoted market prices were as follows Kely Corporation common stock $52, and Keefe Corporation preferred stock, $24 Following are the data for the followine year (Year 2 ) Mar, 02: Dividends per share, declared and paict Kally Corp, 51, and Keefe Corp, 50,50 Oct. 01: Sold 200 shares of Keefe Corperation preferred stock at $25 per share. Dec 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per shure. vear 2 a. Prepare the entry for Drucker Company to record the purchase of the securities. b. Prepare any adjusting entry needed at December 31, Year 1. c. Indicate the items and amounts that should be reported on the Year 1 income statement of Orucker and itsyear-end halance sheet Assume that the invesuments are classified as current. Note. Use a negative sign to indicate a loss