Required information [The following information applies to the questions displayed below.] Brooks Company purchases debt investments as trading securities at a cost of $66,000 on December 27. This is its first and only purchase of such securities. At December 31 , these securities had a fair value of $72,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. \& 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000cash. * Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Ticker Services began operations in Year 1 and holds long-term investments in avallable-for-sale debt securities. The year-end costs and fair values for its portfolio of these investments follow. Prepare journal entries to record each year-end fair value adjustment for these securities. Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 30,000 shares of Greceo Company comnon stoek for $411,000 cash. Grecco has 90,000 shares of conzon stock outstanding, and its activities will be significantly influenced by Kodax. Septenber 1 Grecco declared and pad a caah dividend of $1.50 per share. December 31 Grecco announced that net incone for the year is $486,900. Year 2 June 1 Grecco declared and paid a cash dividend of $2.10 per share. December 31 Grecco announced that net incone for the year is $702,750. becenber 31 Kodax sold 3,000 shares of Creceo for $71,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.)