ook ORION Downloadable eTextbook IHESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Problem 9-4 (Part Level Submission) Whispering Winds Corp. has the following securities (all purchased in 2017) in its investment portfolio on December 31, 2017: 2,600 Anderson Corp. common shares, which cost $50,180; 10,000 Munter Ltd. common shares, which cost $666,000; and 6,900 King Corp. preferred shares, which cost $288,420. Their fair values at the end of 2017 were as follows: Anderson Corp. $50,330; Munter Ltd. $655,050; and King Corp. $287,750 In 2018, Whispering Winds completed the following transations: 1. On January 15, sold 2,600 Anderson common shares at $22 per share less fees of $2,910. 2. On April 17, purchased 1,450 Castle Ltd. common shares at $33.90 per share plus fees of $1,940. The company adds transaction costs to the cost of acquired investments and deducts them from cash received on the sale of investments. On December 31, 2018, the fair values per share of the securities were as follows: Munter $70; King $39; and Castle $33. Whispering Winds's accounting supervisor tells you that all these securities have fair values that can be readily determined, but the company is not likely to actively trade them. Management accounts for them using the FV-OCI method without recycling. Ignore income taxes. Prepare the entries for the sale of the Anderson Corp. investment on January 15, 2018. (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 O for the amounts.) t Titles and Explanation Credit 901 PM 00 11/17/2018