Here is Frederick Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations.

On December 31, the total cost of the portfolio equaled the total fair value. Frederick had the following transactions related to the securities during 2022.

At December 31, 2022, the fair values of the securities were:

a. Prepare journal entries to record the transactions.
b. Post to the investment account. (Use a T-account.)c. Prepare the adjusting entry at December 31, 2022 to report the portfolio at fair value.
d. Show the balance sheet presentation at December 31, 2022, for the investment-related accounts.

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1,000 shares of Willhite Corporation common stock 1,400 shares of Hutcherson Corporation common stock 1,200 shares of Downing Corporation preferred stock Cost $52,000 84,000 33,600