Pearl Company has the following securities in its portfolio on December 31,2020 . None of these investments are accounted for under the equity method. All of the securities were purchased in 2020. In 2021, Pearl completed the following securities transactions. March 1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200. April 1 Bought 700 shares of Earnhart Corp., Common, @$75 plus fees of $1,300. Pearl's portfolio of equity securities appeared as follows on December 31, 2021. Prepare the general journal entries for Pearl Company for: (a) The 2020 adjusting entry. (b) The sale of the Gordon stock. (c) The purchase of the Earnhart stock. (d) The 2021 adjusting entry for the trading portfolio. No. Account Titles and Explanation Debit Credit (a) Fair Value Adjustment (b) Cash (c) Equity Investments (d) Fair Value Adjustment