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 410 shares of Higo stock as a short-term investment at a cost of $46 per share. Tiker has insignificant influence over Higo. June 2 Sells 170 shares of its investment in Higo stock ($7,820 cost) at $49 per share.. December 31 The closing market price (fair value) of the Higo stock is $44 per share. View transaction list View journal entry worksheet No Date General Journal 1 May 09 Stock investments Cash 2 June 02 Cash Gain on sale of stock investments Stock investments + Debit Credit 18,860 18,860 8,330 510 7,820 3 December 31 Unrealized loss - Equity 480 Fair value adjustment - Stock 480