On December $31,2021,$ the end of its first year of operations, Cullumber Associates owned the following securities that are held as

long$-$term investments.

On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the

investees. In $2022,$ the following transactions occurred.

At December $31,$ the fair values per share of the common stocks were C Co$.$ $$43,DC0$$$$7\mathrm{.}20,$ and $E$ Co$.$ $$24.$ These investments

should be classified as long$-$term.

Prepare the adjusting entry at December $31,2022,$ to show the securities at fair value. Cullumber has less than a $20\%$ ownership

interest in all these common stocks $($C Co$.,$ D Co$.,$ and E Co$.).($Credit account titles are automatically indented when the amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Dec. $31$

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