Pronghorn Company has the following securities in its portfolio on December 31, 2025. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc, common $76,500 $72,100 5,000 shares of Wallace Corp, common 195,000 189,600 400 shares of Martin, Inc., preferred 61,600 63,400 $333,100 $325,100 All of the securities were purchased in 2025. In 2026, Pronghorn completed the following securities transactions March 1 April 1 Sold the 1,500 shares of Gordon, Inc., common, @$45 less fees of $1,200. Bought 700 shares of Earnhart Corp, common, @$75 plus fees of $1,500. Pronghorn's portfolio of equity securities appeared as follows on December 31, 2026 Investments Cost Fair Value 5,000 shares of Wallace Corp., common $195,000 $189,600 700 shares of Earnhart Corp.common 54,000 50,400 400 shares of Martin, Inc., preferred 61,600 59,700 $310,600 $299,700 Prepare the general journal entries for Pronghorn Company for: (a) The 2025 adjusting entry. (b) The sale of the Gordon stock. (c) The purchase of the Earnhart stock. (d) The 2026 adjusting entry for the portfolio