Part I11. (12 points) Equity Investments Kane Inc. purchased significant some shares of Kolt Co and Buffaloes Co. in 2009. Kane Inc. carries the on its books at 31,2009, and December 31, 2010. Kane has n security while on Kolt Co is is classified as Trading security Required: Prepare the adjusting entries for Kane Inc. on (1) (4 points) December 31, 2009 (4 points) December 31, 2010. (2) (4 points) What net effect (in S) would the valuation of these stock investments have on 2009 (3) 2009 2010