Wando Company reported retained earnings at December 31, 2019, of $410.000 Wando had 160,000 shares of common stock outstanding throughout 2020 The following transactions occurred during 2020 1. An error was discovered in the 2018 accounting records, depreciation expense was recorded at $60,000, but the correct amount was 550.000 2. A cash dividend of $0.50 per share was declared and paid. 3. A5% stock dividend was declared and distributed when the market price per share was $15 per share 4. Net income was $225.000 Instructions Precale arendaming statement for 2020 Plotner Corporation has the following trading portfolio of stock investments as of December 31, 2019 Secunty Fair Value Cost $19,000 $15,000 B 22,000 C 34,000 27,000 29.000 $71.000 $25.000 On January 22, 2020, Plotner Corporation sold security C for $32,000 Instructions (a) Prepare the adjusting entry for Ploter Corporation on December 31, 2019. to report the portfolio at fair value (b) indicate the balance sheet and income statement presentation of the fair value data for Ploter Corporation at December 31, 2019 Id Prepare the oumal entry for the 2020 sale