Prepare adjusting entry to record fair value, and indicate statement presentation. E13.10 (LO 3) At December 31, 2020, the end of its first year of operations, the trading securities for Geneva AG are as follows. Security Fair Value Cost CHF17,500 CHF16,000 12,500 14,000 23,000 CHF53,000 19,000 CHF49,000 Instructions a. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. b. Show the statement of financial position and income statement presentation at December 31, 2020, after adjustment to fair value. Exercises 13-33