Using the information provided in E16- 5, satisfy the following requirements assuming that Armonico Capital Partners now holds the investments in an available- for- sale portfolio. 

Required
a. Prepare the journal entry to record the acquisition of the investments. b. Prepare the journal entry to record the end of year 1 adjusting entry.
c. Assume that Armonico sells 15,000 MBW Company shares for $ 16 per share at the beginning of year 2. Prepare the journal entry required to record the sale. Armonico does not adjust the fair value adjustment account at this time.
d. Prepare the journal entry to record the sale of the remaining shares for $ 496,500 in the portfolio at the end of year 2.
e. Prepare a table that compares the income effects over the two- year period for both the trading and the available- for- sale portfolios.