Skyline, Inc. purchased a portfolio of trading securities during the current fiscal year. The cost and fair value of this portfolio on December 31, was as follows:

Name	Number of Shares	Total Cost	Total Fair Value
Alcon, Inc.	1,200	$16,000	$15,000
Easton Company	700	23,000	21,500
Panther Company	300	9,000	9,200
Total		$48,000	$45,700

Required:

a.	Provide the journal entry to record the adjustment of the trading security portfolio to fair value on December 31. Refer to the Chart of Accounts for exact wording of account titles.
b.	Where will the information from the journal entry be reported on the financial statements?