Required information (The following information applies to the questions displayed below) Stoll Co's long-term available-for-sale portfolio at December 31, 2016, consists of the following Available-for-Sale Securities 40,000 shares of Company A common stock 10.000 shares of Company B common stock 25,000 shares of Company C common stock Cost $1,030, 600 320, 750 1,329,000 Fair Value $ 900,000 310,000 1,284,875 Stoll enters into the following long-term investment transactions during year 2017. Jan. 29 Sold 5,000 shares of Company B common stock for $159,375 less a brokerage fee of $2,500. Apr. 17 Purchased 20,000 shares of Company W common stock for $400,000 plus a brokerage fee of $2,200. The shares represent a 30% ownership in Company W. July 6 Purchased 8,000 shares of Company x common stock for $253,625 plus a brokerage fee of $2,200. The shares represent a 121 ownership in Company X. Aug. 22 Purchaned 100,000 shares of company y common stock for $500,000 plus a brokerage fee of $7,000. The bares represent a 511 ownership in Company Y. Nov. 13 Purchased 12,000 shares of Company common stock for $533,300 plus a brokerage fee of $5,000. The shares represent a 5t ownership in Company %. 9 Sold 40,000 shares of company in common stock for $1,027,000 less a brokerage fee of $4,100. The fair values of its investments at December 31, 2017, are: B, $163,250; C. $1,221,125: W, $383,000; X $236,750; Y, $1,063,000; and Z. 558,100. Doc. Required: 1. Determine the amount Stoll should report on its December 31, 2017, balance sheet for its long-term investments in available for sale securities 2. Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term Investments in available for sale securities 1 of 2 6 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term investments in available for sale securities. Fair Value Adjustment Computation - Avalloble.for Sale Securities Unrealized December 31, 2017 AFS Securities # of shares Cost Fair Value Amount Total Required 1 Required 2 Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term invest available-for-sale securities. View transaction list Journal entry worksheet