The following information describes the investment portfolio of Johnson, Incorporated. All of the securities were purchased on 3/1/19, and are held with the intention of appreciation. Tlet, Loxat, and Barnes each have more than 1,000,000 common shares issued and outstanding throughout 2019 and 2020.

No dividends have been received by Johnson, Inc. on these investments. On 5/1/2020, when Loxat was trading at $81 per share, Johnson Inc. sold 1000 shares.

Security	Cost at 12/31/19	/ share			FMV at 12/31/2019	/share		FMV at 12/31/2020	/share
Tlet Inc (1000 sh)	$23,000				28,500			37,000
Loxat Co (2000 sh)	100,000				142,500			96,500
Barnes Inc (2000 sh)	46,000				39,000			42,000
Total	$169,000				210,000			175,500

A) Prepare the Necessary Journal Entries for 2019 and 2020

B) Complete a fair value adjustment