Question 9 of 11 2.5/5 E 1 View Policies Show Attempt History Current Attempt in Progress Carla Vista Company has these data at December 31, 2022, the end of its first year of operations. Cost Fair Value Debt Securities Trading $112.910 $120.780 Available for sale 107.000 97,420 The available-for-sale securities are held as a long-term investment -a . (a) Your Answer Correct Answer Your answer is correct Prepare the adjusting entries to report each class of securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit Dec 31 Fair Value Adjustment-Trading 7870 Unrealized Gain or Loss-Income 7870 (To record unrealized gain/loss on trading securities) Dec 31 Unrealized Gain or Loss-Equity 10380 Fair Value Adjustment-Available for Sale 10330 (To record unrealized gain loss on available-for-sale securities) eTextbook and Media Solution List of Accounts Attempts: 3 of 3 used (b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts. (Enter negative amounts using either a negative sign preceding the numbereg.-45 or parentheses eg (454 Carla Vista Company (Partial) Balance Sheet ) V $ Carla Vista Company Income Statement Carla Vista Company Comprehensive Income Statement List of Accounts Save for Later Attempts: 0 of 3 used Submit