Question 4 (25%) Triumph Corp. had the following securities in its investment portfolio on December 31, 2017: Security 1,500 Bunker common shares 4,000 Barco preferred shares 16,000 Tanco common shares Cost $60,000 $600,000 $720,000 Market value, 12/31/2017 $21,000 $560,000 $960,000 In 2018, Brandy made the following changes to the portfolio: 1. On July 31, sold 1,500 Bunker shares for $15 per share less fees of $1,000. 2. On August 9, purchased 3,000 Oranco Ltd. common shares at $16.00 per share plus fees of $1,000. On December 31, 2018, the fair values per share of the securities were as follows: Barco $135; Tanco $70; and Oranco $17. Triumph accounted for the portfolio at the FV-OCI without recycling a. Prepare a journal entry to record the sale of Bunker shares. (9 marks) 4 b. Prepare journal entries on December 31, 2018 to adjust the portfolio Triumph had to fair value. Use the following table to show your work. (7 marks) Security Market value, 12/31/2018 Book value before adjustments c. Triump sold 1,500 Oranco shares on Feb. 1, 2019 at $10 per share less fees of $500. Prepare all necessary journal entries. (9 marks)