Stoll Co.s long-term available-for-sale portfolio at December 31, 2016, consists of the following.

Available-for-Sale Securities	Cost			Fair Value
80,000 shares of Company A common stock	$	1,070,600		$	980,000
14,000 shares of Company B common stock		318,750			308,000
35,000 shares of Company C common stock		1,325,500			1,281,875

Stoll enters into the following long-term investment transactions during year 2017.

Jan.		29		Sold 7,000 shares of Company B common stock for $158,375 less a brokerage fee of $3,100.
Apr.		17		Purchased 20,000 shares of Company W common stock for $395,000 plus a brokerage fee of $3,500. The shares represent a 30% ownership in Company W.
July		6		Purchased 9,000 shares of Company X common stock for $253,125 plus a brokerage fee of $3,500. The shares represent a 10% ownership in Company X.
Aug.		22		Purchased 100,000 shares of Company Y common stock for $750,000 plus a brokerage fee of $8,200. The shares represent a 51% ownership in Company Y.
Nov.		13		Purchased 17,000 shares of Company Z common stock for $533,800 plus a brokerage fee of $6,900. The shares represent a 5% ownership in Company Z.
Dec.		9		Sold 80,000 shares of Company A common stock for $1,030,000 less a brokerage fee of $4,100.

The fair values of its investments at December 31, 2017, are: B, $162,750; C, $1,220,625; W, $382,500; X, $236,250; Y, $1,062,500; and Z, 557,600.

Required: 1. Determine the amount Stoll should report on its December 31, 2017, balance sheet for its long-term investments in available-for-sale securities. 2. Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities.

Prepare any necessary December 31, 2017, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities.

Fair Value Adjustment Computation - Available-for-Sale Securities
December 31, 2017 AFS Securities	# of shares	Cost	Fair Value	Unrealized Amount
Total		$0	$0

Record the year-end adjusting entry for the securities portfolio as of December 31, 2017.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31

3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Stoll report on its December 31, 2017, income statement?