Problem H-05 a-c Here is Sandhill Company's portfolio of long-term stock investments at December 31, 2019, the end of its first year of operations. Cost 1,270 shares of Batone Inc. common stock 1,400 shares of Mendez Corporation common stock 880 shares of P. Tillman Corporation preferred stock $62,738 93,800 33,440 On December 31, the total cost of the portfolio equaled the total fair value. Sandhill had the following transactions related to the securities during 2020. Jan. 20 28 30 Feb. 8 Sold 1,270 shares of Batone Inc. common stock at $58 per share. Purchased 440 shares of $10 par value common stock of P. Wahl Corporation at $78 per share. Received a cash dividend of $1.13 per share on Mendez Corporation common stock. Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. Sold all 880 shares of P. Tillman preferred stock at $34 per share. Received a cash dividend of $1.10 per share on Mendez Corporation common stock. Purchased an additional 590 shares of the $10 par value common stock of P. Wahl Corporation at $79 per share. Received a cash dividend of $1.60 per share on P. Wahl Corporation common stock. 18 July 30 Sept. 6 Dec. 1 At December 31, 2020, the fair values of the securities were: Mendez Corporation common stock P. Wahl Corporation common stock $62 per share $77 per share Sandhill uses separate account titles for each investment, such as Investment in Mendez Corporation Common Stock. Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered.Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 18 Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Show the balance sheet presentation at December 31, 2020. Sandhill Company (Partial) Balance Sheet