Problem 15-5A Long-term investment transactions; unrealized and realized gains and losses LO C2, P3, P4 [The following information applies to the questions displayed below.] Stoll Co.s long-term available-for-sale portfolio at December 31, 2016, consists of the following. Available-for-Sale Securities Cost Fair Value 65,000 shares of Company A common stock $ 1,045,600 $ 930,000 40,000 shares of Company B common stock 350,750 340,000 40,000 shares of Company C common stock 1,381,500 1,329,875 Stoll enters into the following long-term investment transactions during year 2017. Jan. 29 Sold 20,000 shares of Company B common stock for $174,375 less a brokerage fee of $3,100. Apr. 17 Purchased 22,000 shares of Company W common stock for $475,000 plus a brokerage fee of $3,700. The shares represent a 30% ownership in Company W. July 6 Purchased 14,000 shares of Company X common stock for $261,125 plus a brokerage fee of $3,700. The shares represent a 12% ownership in Company X. Aug. 22 Purchased 100,000 shares of Company Y common stock for $650,000 plus a brokerage fee of $8,500. The shares represent a 51% ownership in Company Y. Nov. 13 Purchased 18,000 shares of Company Z common stock for $525,800 plus a brokerage fee of $6,500. The shares represent a 5% ownership in Company Z. Dec. 9 Sold 65,000 shares of Company A common stock for $1,030,500 less a brokerage fee of $4,100. The fair values of its investments at December 31, 2017, are: B, $170,750; C, $1,228,625; W, $390,500; X, $244,250; Y, $1,070,500; and Z, 565,600. Problem 15-5A Part 1 and 2 Required: 1. Determine the amount Stoll should report on its December 31, 2017, balance sheet for its long-term investments in available-for-sale securities. 2. Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities.