Submit Check my work 4 Prepare Tiker Company's Journal entries to record the following transactions and the adjusting entry to record the fair value of the stock Investments portfolio. This is the first and only time the company purchased such securities. 5 points May 9 Purchases 340 shares of Higo stock as a short-term investment at a cost of $39 per share. Tiker han insignificant influence over Higo. June 2 Sells 100 shares of its investment in Higo stock ($3,900 coat) at $42 per share. Dec. 31 The closing market price (fair value) of the Higo stock is $37 per share. eBook View transaction list Journal entry worksheet Hint