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

Securities		Cost		Fair Value
2,500 shares of Myers Corporation Common Stock		$36,200		$45,300
900 shares of Cole Incorporated Preferred Stock		24,300		20,800
		$60,500		$66,100

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