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 360 shares of Higo stock as a short-term investment at a cost of $41 per share. Tiker has insignificant influence over Higo. June 2 Sells 120 shares of its investment in Higo stock ($4,920 cost) at $44 per share. December 31 The closing market price (fair value) of the Higo stock is $39 per share. View transaction list Journal entry worksheet 1 2 3 Purchases 360 shares of Higo stock as a short-term investment at a cost of $41 per share. Tiker has insignificant influence over Higo. Note: Enter debits before credits. Date May 09 General Journal Debit Credit