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Shyline, Inc, purchased a portfolio of avallable-for-sale securties during the current fiscal yeaz. The cost and fair value of this portfolio on December 31 were

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Shyline, Inc, purchased a portfolio of avallable-for-sale securties during the current fiscal yeaz. The cost and fair value of this portfolio on December 31 were as follows: Required: a. Joumalize the adjusting entry for the fair value of the portfolio of securities on December 31. If an amount box does not require an entry, Ieave it blank. b. Where win the information from the journal entry be reported on the financial statements? The Wiil be reported on the balance sheet as part of stockbolders equity. The Assets section on the boiance sheet wili increase the value of the portfole in the

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