Question 4 Triumph Corp. had the following securities in its investment portfolio on December 31, 2017: Cost Security 1,500 Bunker common shares 4,000 Barco preferred shares 16,000 Tanco common shares $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. 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. Security Book value before Market value, 12/31/2018 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)