Problem 9-4 Whispering Winds Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,370 Anderson Corp. common shares, which cost $48,750; 11,600 Munter Ltd. common shares, which cost $580,500; and 6,350 King Corp. preferred shares, which cost $255,400. Their fair values at the end of 2020 were as follows: Anderson Corp. $50,780; Munter Ltd. $569,500; and King Corp. $255,000. In 2021, Whispering Winds completed the following transactions: 1. On January 15, sold 2,370 Anderson common shares at $24 per share less fees of $2,390. 2. On April 17, purchased 1,340 Castle Ltd. common shares at $34.00 per share plus fees of $1,780. The company adds transaction costs to the cost of acquired investments and deducts them from cash received on the sale of investments. On December 31, 2021, the fair values per share of the securities were as follows: Munter $63; King $24; and Castle $20. Whispering Winds's accounting supervisor tells you that all these securities have fair values that can be readily determined, but the company is not likely to actively trade them. Management accounts for them using the FV-OCI method without recycling. Any gains or losses are reclassified to Retained Earnings upon disposition of the investment. Ignore income taxes. Prepare the entries for the sale of the Anderson Corp. investment on January 15, 2021. (Credit account titles are automatically indented when the 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 Jan. 15 (To adjust to fair value at date of disposal) Jan. 15 (To record disposal) (To record disposal) Jan. 15 (To reclassify holding gain) SHOW LIST OF ACCOUNTS Prepare the entry to record the Castle Ltd. share purchase on April 17, 2021. (Credit account titles are automatically indented when the 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 Apr. 17 SHOW LIST OF ACCOUNTS Calculate the unrealized gains or losses and prepare any required adjusting entry for Whispering Winds Corp. on December 31, 2021. (Credit account titles are automatically indented when the 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 Indicate how all amounts will be reported on Whispering Winds's statement of financial position and statement of comprehensive income, and the changes in the accumulated other comprehensive income portion of the statement of changes in equity for 2021. (If an amount reduces the account balance then enter with negative sign.) Whispering Winds Corp. Statement of Financial Position Whispering Winds Corp. Statement of Comprehensive Income $X Items that will not be reclassified to net income: $ $X + Whispering Winds Corp. Whispering Winds Corp. Statement of Comprehensive Income $X Items that will not be reclassified to net income: $ $X + Whispering Winds Corp. Statement of Changes in Accumulated Other Comprehensive Income