The following information is available for Pharoah Company at December 31, 2020, regarding its investments. Securities Cost Fair Value 2,600 shares of Myers Corporation Common Stock $36,900 $46,200 1,200 shares of Cole Incorporated Preferred Stock 23,600 21,100 $60,500 $67,300 (a) Prepare the adjusting entry (if any) for 2020, assuming no balance in the Fair Value Adjustment account at January 1, 2020. Neither of Pharoah's investments result in significant influence. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Common Stock Debit 23400 Credit