Problem H-5 (Part Level Submission) Here is Sheridan Company's portfolio of long-term stock investments at December 31, 2018, the end of its first year of operations. 1,500 shares of Batone Inc. common stock 1,300 shares of Mendez Corporation common stock 780 shares of P. Tillman Corporation preferred stock Cost $73,800 96,200 34,320 On December 31, the total cost of the portfolio equaled the total fair value. Sheridan had the following transactions related to the securities during 2019. Jan. 20 28 30 Feb. 8 18 July 30 Sept. 6 Dec. 1 Sold 1,500 shares of Batone Inc. common stock at $50 per share. Purchased 430 shares of $10 par value common stock of P. Wahl Corporation at $74 per share. Received a cash dividend of $1.14 per share on Mendez Corporation common stock. Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. Sold all 780 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 570 shares of the $10 par value common stock of P. Wahl Corporation at $82 per share. Received a cash dividend of $1.40 per share on P. Wahl Corporation common stock. At December 31, 2019, the fair values of the securities were: Mendez Corporation common stock P. Wahl Corporation common stock $69 per share $73 per share Sheridan uses separate account titles for each investment, such as Investment in Mendez Corporation Common Stock. (b) Prepare the adjusting entry at December 31, 2019, to report the portfolio at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31