Required information The following information applies to the questions displayed below.) Stoll Co.'s long-term available for sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $531,300 159, 220 662,500 Fair Value $491,600 153,000 641,950 Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,400. July 6 Purchased bonds of Company for $126,500. Nov. 13 Purchased notes of Company 2 for $267,700. Dec. 9 Sold all of the bonds of Company A for 5515, 100. The fair values at December 31 are B. $83,300 C, $603,800; X, $101,000, and Z. $290,000. Required: 1. Prepare ournal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the loterm investments in available for sale securities 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available for sale securities Required information No Credit Date Jan. 29 Debit 78,400 General Journal Cash Loss on sale of debt investments Debt investments - AFS Interest revenue 3.110 X 76,500 X 1,210 Jul 06 126,500 Debt investments - AFS Cash 126,500 Nov. 13 267,700 Debt investments - AFS Cash 267,700 Dec 9 515,100 Cash Unrealized gain -Income Loss on sale of debt investments Loss on sale of debt investments 40,300 491,000 16,200 X Dec 31 Debt investments - AFS 6,800 Stoll enters into the following transactions involving its available for sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,400. July 6 Purchased bonds of Company x for $126,500. Nov. 13 Purchased notes of Company 2 for $267,790. Dec. 9 Sold all of the bonds of Company A for $515,100. The fair values at December 31 are B, $83,300, C, $603,800; X, $101,000, and Z. $290,000 3. What amount of gains or losses on transactions relating to long-term investments in available for sale debt securities does Stoll report on its income statement for this year