shows in tabular form the account balances under each method at December 31, 2022. PH.5 (LO 2, 3) Here is Kalvin Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. Journalize stock transactions, and show balance sheet presentation. Cost 1,400 shares of Batone Inc. common stock $73,500 1,200 shares of Mendez Corporation common stock 84,000 800 shares of P. Tillman Corporation preferred stock 33,600 On December 31, the total cost of the portfolio equaled the total fair value. Kalvin had the following transactions related to the securities during 2022. Jan. 20 Sold all 1,400 shares of Batone Inc. common stock at $55 per share. 28 Purchased 400 shares of $10 par value common stock of P. Wahl Corporation at $78 per share. 30 Received a cash dividend of $1.25 per share on Mendez Corporation common stock. Feb. 8 Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. 18 Sold all 800 shares of P. Tillman preferred stock at $35 per share. July 30 Received a cash dividend of $1.10 per share on Mendez Corporation common stock Sept. Purchased an additional 600 shares of the $10 par value common stock of P. Wahl Corporation at $82 per share. Dec. Received a cash dividend of $1.50 per share on P. Wahl Corporation common stock. 6 1 At December 31, 2022, the fair values of the securities were: Mendez Corporation common stock $65 per share P. Wahl Corporation common stock $77 per share Kalvin uses separate account titles for each investment, such as Investment in Mendez Corporation Common Stock. Instructions a. Prepare journal entries to record the transactions. Loss on sale of Tillman stock investments $5,600 b. Prepare the adjusting entry at December 31, 2022, to report the portfolio at fair value. Unrealized loss $9,400 c. Show the balance sheet presentation at December 31, 2022. PH.6 (LO 3) The following data, presented in alphabetical order, are taken from the records of