Problem 12-5A The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017. 1,100 shares of Willhite Corporation common stock 1,200 shares of Hutcherson Corporation common stock 1,200 shares of Downing Corporation preferred stock Cost $57,200 68,400 37,200 On December 31, 2017, the total cost of the portfolio equaled total fair value. Frederick had the following transactions related to the securities during 2018. Jan. 20 28 30 Feb. 8 18 July 30 Sept. 6 Dec. 1 Sold all 1,100 shares of Willhite Corporation common stock at $55 per share. Purchased 400 shares of $67 par value common stock of Liggett Corporation at $75 per share. Received a cash dividend of $1.15 per share on Hutcherson Corporation common stock. Received cash dividends of $0.36 per share on Downing Corporation preferred stock. Sold all 1,200 shares of Downing Corp. preferred stock at $30 per share. Received a cash dividend of $1.00 per share on Hutcherson Corporation common stock. Purchased an additional 920 shares of $14 par value common stock of Liggett Corporation at $79 per share. Received a cash dividend of $1.26 per share on Liggett Corporation common stock. At December 31, 2018, the fair values of the securities were: Hutcherson Corporation common stock Liggett Corporation common stock $61 per share $69 per share Prepare journal entries to record the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and order presented in the problem. Round answers to O decimal places, e.g. 1,525.) Date Account Titles and Explanation Debit Credit Post to the investment accounts. (Use T-accounts.) (Post entries in the order of journal entries presented in the previous part. Round answers to 0 decimal places, e.g. 1,525.) Stock Investments Prepare the adjusting entry at December 31, 2018 to report the portfolio at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account amounts. Round answers to 0 decimal places, e.g. 1,525.) Date Account Titles and Explanation Debit Credit Show the balance sheet presentation at December 31, 2018, for the investment-related accounts. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 1,525.) Frederick Company Balance Sheet (Partial)