Problem 16-05A a-d The following securities are in Sheridan Company's portfolio of long-term securities at December 31, 2020. Cost 1,400 shares of Willhite Corporation common stock 1,500 shares of Hutcherson Corporation common stock 1,100 shares of Downing Corporation preferred stock $77,000 94,500 33,000 On December 31, 2020, the total cost of the portfolio equaled total fair value. Sheridan had the following transactions related to the securities during 2021. Jan. 20 28 30 Feb. 8 18 July 30 Sept. 6 Dec. 1 Sold all 1,400 shares of Willhite Corporation common stock at $58 per share. Purchased 520 shares of $69 par value common stock of Liggett Corporation at $77 per share. Received a cash dividend of $1.45 per share on Hutcherson Corp. common stock. Received cash dividends of $0.70 per share on Downing Corp. preferred stock. Sold all 1,100 shares of Downing Corp. preferred stock at $ 29 per share. Received a cash dividend of $1.00 per share on Hutcherson Corp. common stock. Purchased an additional 960 shares of $10 par value common stock of Liggett Corporation at $81 per share. Received a cash dividend of $1.60 per share on Liggett Corporation common stock. At December 31, 2021, the fair values of the securities were: Hutcherson Corporation common stock Liggett Corporation common stock $67 per share $71 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 enter o for the amounts. Record journal entries in the order presented in the problem.) 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.) Stock Investments Prepare the adjusting entry at December 31, 2021 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 titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 Prepare the adjusting entry at December 31, 2021 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 titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Show the balance sheet presentation at December 31, 2021, for the investment-related accounts. Sheridan Company Balance Sheet (Partial) XXXXX Click if you would like to Show Work for this question: Open Show Work