Wv21 Online teachin X+ takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignm.. D 2o eBook Show Me HowCalculator Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Griffin Inc. Luck Company Wilson Company Number of Shares Total Fair Value Total Cost $19,430 26,240 12,400 $58,070 On May 10, Year 2, Gruden Bancorp Inc. purchased 550 shares of Carroll Inc, at $31 per share plus a $120 1,450 800 400 $18,260 24,400 12,650 $55,310 Total brokerage commission Provide the journal entries to record the following: a. The adjustment of the trading security portfolio to fair value on December 31, Year 1. Year 1, Dec. 31 b. The May 10, Year 2, purchase of Carroll Inc. stock. b. The May 10, Year 2, purchase of Carroll Inc. stock. Year 2, May 10