Weston Company Had the Following Long-Term Equity Securities in Its

Weston Company had the following long-term equity securities in its portfolio at December 31,Year 1.Weston had several long-term investment transactions during the next year.After analyzing the effects of each transaction,(1)determine the amount Weston should report on its December 31,Year 1 balance sheet for its long-term investments in available-for-sale securities,(2)determine the amount Weston should report on its December 31,Year 2 balance sheet for its long-term investments in equity securities,(3)prepare the necessary adjusting entry to record the fair value adjustment at December 31,Year 2.