Instructor: Course: 15-10 Prepare adjusting entry to record fair volue, and indicate statement presentation at December 31, 2014, the trading securities for Storrer, Inc. are as follows. Security Cost $17,500 12,500 23,000 $53.000 Fair Value $16,000 14,000 21,000 $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 with a "?" (a) Dec. 31 LOSS Income 2,000 Pg 537-542 2,000 (b) Balance Sheet Current assets Short-term investments, at fair value 51,000 Income Statement Section ??? Unrealized loss on trading securities pg 538 2,000 7c.) E. Kretsinger, a member of the Board of Directors, does not undertsand the reporting of unrealized Rains or losses Write a letter to Ms. Kretsinger explaining the reporting and purposes each serve.. E15-10 Enter