Brief Exercise 16-03 Your answer is partially correct. Try again. Carla Vista Company owns 30% of Lauer Company. For the current year, Lauer reports net income of $245,000 and declares and pays a $49,000 cash dividend. Record Carla Vista's equity in Lauer's net income and the receipt of dividends from Lauer. (Credit account titles are automatically indented when amount is entered indent manually. If no entry is required select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Dec. 31 Unrealized Gain or Loss-Income Fair Value Adjustment Trading (To record equity in Lauer's net income) Dec. 31 Fair Value Adjustment-Available for Sale Unrealized Gain or Loss-Equity (To record dividends received) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS Brief Exercise 16-04 The cost of the trading debt securities of Ivanhoe Company at December 31, 2020, is $51,500. At December 31, 2020, the fair value of the securities is $19,350. Prepare the adjusting entry to record the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manes is required lect"No entry for the account title and enter for the amounts) Debit Credit Date Account Titles and Explanation Dec. 31 Click if you would like to Show Work for this question: Open Show Work