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 200 shares of Higa stock as a short-term investiment at a cost of 530 per share. Tikne has insiauificaut June 2 Sells 20 shares of its investaent in Higo stock (\$6e@ cost) at $33 per share. Decomber 31 The closing market price (faie value) of the Higo stock is $23 per share. Journal entry worksheet Purchases 200 shares of Higo stock as a short-term investment at a cost of $30 per share. Tiker has insignificant influence over Higo. Note: Enter debits before credits