E15-10 Prepare adijusting entry to record fair value, and indicate statement presentation At December 31, 2014, the trading securities for Storrer, Inc. are as follows. Security Cost ' Fair Value A $17,500 $16,000 B 12,500 14,000 ! C 23,000 21,000 $53,000 $51,000 Instructions (a) Prepare the adjusting entry at December 31, 2014, to report the securities at fair value. (b) Show the balance sheet and income statement presentation at.December 31, 2014, after adjustment to fair value. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells witha "?" . (2) Dec31 (b) Balance Sheet Current assets Short-term investments, at fair value i:l Income Statement Section 2?2 Unrealized loss on trading securities | l_:' Write 2 letter to Ms. Kretsinger explaining the reporting and purposes each serve... c.) "75. Kretsinger, 2 member of the Board of Directors, does not undertsand the reporting of unrealized gains or losses