Ur compreh randa Corporation made the following cash purchases of securities of Sanchez Company's common stock at $33.50 per share plus comm ased 7,000 shares of WTA Co.'s preferred stock at $26.50 per share plus commissiorn of comprehensive income for 2017, starting with net income upare a statement of comprehensive income for 2018, s m E17-1 STH (Lo2) (Equity Securities Entries) ch is the first year in which Arantxa invest 1. O ed in securities. n January 15, purchased 10,000 shares April 1, purchased 5,000 shares of Companys common s 2. On 3. On September 10, purch icario Co.'s common stock at $52.00 per share plus commission $3 On ay 20 2017Ara385. The year-end fair values aeos to hold these secsunot a share were Sanchez $30, Vicario $55, and WTA $2 anda told you that the corporation plans to hold these securities for the long-term but ma on in prices. The equity method of accounting is not appropriate for these stock commissions, taxes, and fees of y's common stock at a market price of $35 per share l order to earn profits from appreciation Instructions The equity Prepare the journal entries to record the above three security purchases. Prepare the journal entry for the security sale on May 20 (a) (b) Compute the unrealized gains or losses and prepare the adjusting entries for Aranda on December 31, 20 17-12 (L02,3) (Journal Entries for Fair Value and Equity Methods) The following are two independent sith Situat