roblem #7 Trinh's Totally Tremendous Tortellini, provided you with the following information regarding trading securities held in the company portfolio: 31-Dec-15 ir Valu Shares Cost Investment (Company name Melissa's Manicotti Mf Dieula's Ditalini, Ltd Cristian's Cannelloni Co Rocio's Rigatoni 1000 Ss 1300 Io 750 1 1120 65,000 $ 20,800 30,000 28,000 143,800 $ 66,000 22,250 24,750 33,200 146,200 During 2016 the following transactions occurred 9-May 16-May 20-Jun 12-Nov 24-Dec 700 shrs of Melissa's Manicotti Mfg. were sold for 1000 shrs of Dieula's Ditalini were sold for 7000 sh 300 shrs. of Jeisenia Gemelli were sold for 500 5 shrs. of Melissa's Manicotti Mfg were acquired for 41,300 21,000 35,000 13,500 26,000 shrs. of Jeisenia Gemelli were acquired for ities remained in the Trinh's Totally Tremendous Tortellini On December 31, 2016, the following secur trading portfolio: 31-Dec-16 Shares 800 Investment (Company name) Melissa's Manicotti Mfg Dieula's Ditalini, Ltd Cristian's Cannelloni Co. Rocio's Rigatoni Jeisenia Gemelli 44,800 6,600 28,500 28,000 19,600 127,500 300o0 1120 xas a00 Instructions: Prepare: a the adjusting journal entry required on December 31, 2015 Assume $4,200 credit balance in the securities fair value adjustment account prior to adjustment b the journal entries to record the 2016 purchases and sales. c the adjusting journal entry required on December 31, 2016