Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities. May 9 Purchases 300 shares of Higo stock as a short-term investment at a cost of $35 per share. Tiker has insignificant influence over Higo. June 2 Sells 70 shares of its investment in Higo stock ($2,450 cost) at $38 per share. Dec. 31 The closing market price (fair value) of the Higo stock is $33 per share. View transaction list Journal entry worksheet at a cost of Debt investments - AFS Purchases Debt investments - HTM $35 per sh Debt investments - Trading Dividend revenue Note: Enter det Earnings from equity method investments Date Equity method investments May 09 : Equity method investments Credit Debit 10,500 Cash 10,500 Record entry Clear entry View general journal Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities. May 9 Purchases 300 shares of Higo stock as a short-term investment at a cost of $35 per share. Tiker has insignificant influence over Higo. June 2 Sells 70 shares of its investment in Higo stock ($2,450 cost) at $38 per share. Dec. 31 The closing market price (fair value) of the Higo stock is $33 per share. View transaction list Journal entry worksheet