Required Information [The following Information applies to the questions displayed below.] Rose Company had no short-term Investments prior to this year. It had the following transactions this year Involving short-term stock Investments with Insignificant Influence. Apr. 16 Purchased 8,000 shares of Gem Co. stock at $20.00 per share. July 7 Purchased 4,000 shares of PepsiCo stock at $52.00 per share. 20 Purchased 2,000 shares of Xerox stock at $17.00 per share. Aug. 15 Received a(n) $0.90 per share cash dividend on the Gem Co. stock. 28 Sold 4,000 shares of Gen Co. stock at $26.75 per share. Oct. 1 Received a $1.80 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.05 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.35 per share cash dividend on the PepsiCo shares. 3. Prepare an adjusting entry to record the year-end fair value adjustment for the portfolio of short-term stock Investments. View transaction let Journal entry worksheet 1 Record the year-end adjusting entry for the securities portfolio as of December 31. Note: Enter debits before credits. Date Dec. 31 General Journal Debit Credit Record entry Clear entry View general journal