The following information is available for Pronghorn Company at December 31, 2017, regarding its investments.

Securities		Cost		Fair Value
2,700 shares of Myers Corporation Common Stock		$41,800		$49,500
1,100 shares of Cole Incorporated Preferred Stock		25,600		22,200
		$67,400		$71,700

(a) Prepare the adjusting entry (if any) for 2017, assuming no balance in the Fair Value Adjustment account at January 1, 2017. Neither of Pronghorns investments result in significant influence. Assume the securities as trading securities