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 350 shares of Higo stock as a short-tern investment at a cont of $40 per share. Tiker has insignificant influence over Higo. June 2 solls 110 shares of its investment in Higo stock ($4,400cost) at $43 per ahare. December 31 The olosing market price (fair value) of the Higo otock is $38 per ahare