Ch 15 E15-10 Insert Page Layout Formulas Data ReviewView Add-InsACROBAT Team Copy Format Painter Check Cell & Center ,G || E15-10 Prepare adjusting entry to record fair value, and indicate statement presentation 6 At December 31, 2014, the trading securities for Storrer, Inc. are as follows. Fair Value $16,000 14,000 21,000 $51,000 $17,500 10 23,000 15 (a) Prepare the adjusting entry at December 31, 2014, to report the securities at fair value. 16 (b) Show the balance sheet and income statement presentation at December 31, 2014, 17 after adjustment to fair value. 9 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "? 20 21 23 (a) Dec. 31 27 Current assets Short-term investments, at fair value 31 32 Section ?7? Unrealized loss on trading securities E. Kretsinger, a member of the Board of Directors, does not undertsand the reporting of unrealized gains or losses. Write a letter to Ms. Kretsinger explaining the reporting and purposes each serve.. 37 c. E15-10