Question 1 Your answer is partially correct. Try again Skysong Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method Fair Valu 1,500 shares of Gondon, Inc., Common 5,000 shares of Wallace Corp., Common 400 shares of Martin, Ink., Preferred $72,E00 174,s0o 55,600 $303,c0 $68,600 1G9,400 57,300 295,300 All of the securities were purchased in 2017 In 2018, Skysong completed the following securities transactions March1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200 April 1 Bought 700 shares of Earnhart Corp., Common, @75 plus fees of $1,300 Skysong's portfolio of equity securities appeared as follows on December 31, 2018 5,000 shares of Wallace Corp., Common 700 stares of Earnhart Corp., Common 400 stares of Martin, Ine., Preferred S174,800 53,500 55,400 169,400 s0,000 53,800 $273,200 Prepare the general journal entries for Skysong Company for: (a) The 2017 adjasting entry (b) The sale of the Gordan stock (c) The purchase of the Earnhart stock (d) The 2018 adjasting entry for the trading portfio (Credit account titles are automatically indented when 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.) (bi