The following are in Verbitsky’s Company’s portfolio of long-term non-trading securities at December 31, 2013.

                                                                                          Cost  
700 shares of Sasha Corporation common stock          $35,000
900 shares of Ukraine Corporation common stock         42,000
800 shares of Zaba Corporation preferred stock             22,400

On December 31, the total cost of the portfolio equaled total fair value. Verbitsky’s Company had the following transactions related to the securities during 2014.

Jan. 7     Sold 700 shares of Sasha Corporation common stock at $56 per share, less brokerage fees of $700.
      10    Purchased 300 shares, $70 par value common stock of Vanucci Corporation at $78 per share, plus brokerage fees of $240.
      26    Received a cash dividend of $1.15 per share on Ukraine Corporation common stock.
Feb. 2    Received cash dividends of $0.40 per share on Zaba Corporation preferred stock.
      10    Sold all 800 shares of Zaba Corporation preferred stock at $26 per share less brokerage fees of $180.
July  1    Received a cash dividend of $1.00 per share on Ukraine Corporation common stock.
Sept. 1    Purchased an additional 800 shares of the $70 par value common stock of Vanucci Corporation at $75 per share, plus brokerage fees of $900.
Dec. 15   Received a cash dividend of $1.50 per share on Vanucci Corporation common stock.

At December 31, 2014, the fair values of the securities were:

Ukraine Corporation common stock         $48 per share
Vanucci Corporation common stock         $72 per share

Instructions
  (a) Prepare journal entries to record the transactions.
  (b) Post to the investment accounts. (Use T-accounts.)
  (c) Prepare the adjusting entry at December 31, 2014, to report the portfolio at fair value.
  (d) Show the balance sheet presentation at December 31, 2014, for the investment-related accounts.