Problem 12-3A (Part Level Submission) On December 31, 2015, Tumball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee Common Stod Gehring Co. Wooderson Co. Kitton Co 1,860 4,840 $57,660 48,400 31.440 1,520 On December 31, 2015, the total fair value of the securities was equal to its cost. In 2016, the following transactions occurred July 1 Received $2 per share semiannual cash dividend on Wooderson Co. common stock Aug. 1 Received $0.50 per share cash dividend on Gehring Co. common stock Sept. 1 Sold 1,452 shares of Wooderson Co. common stock for cash at $9 per share. Oct. Sold 76 shares of Gang Co. common wock for cash at $34 per share Nov. 1 Received $2 per share cash dividend on otseton Co. common stock Dec. 15 Received 10.50 per share cash vided on Gehring Co. common stock Dec. 31 Received 12 per share semnul cash dividend on Wooderson Co. common stock At December 31, the fer les per share of the common stocks were: Gehring Co. $33, Wooderson Co. 19, and Kitten Co. 120 (b) Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2016, to show the securities at fair value. The stock should be classified as available for sale securities. (Credit account til required, select "No entry for the account tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec.31 Unrealized Loss-Income Trair Value Adjustment Tra SHOW LIST OF ACCOUNTS LINK TO TEXT The parts of this question must be completed in order. This part will be available when you complete the part above