Weston Company had the following stock investments with insignificant influence in its portfolio at December 31,Year 1.Weston had several investment transactions during year 2.
(1)Determine the amount Weston should report on its December 31,Year 1 balance sheet for its stock investments.
(2)Determine the amount Weston should report on its December 31,Year 2 balance sheet for its stock investments.
(3)Prepare the necessary adjusting entry to record the fair value adjustment at December 31,Year 2. 
Correct Answer:
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