Element Company Had the Following Long-Term Available-For-Sale Securities in Its

Element Company had the following long-term available-for-sale securities in its portfolio at December 31 for each of the years listed. The year-end cost and fair values for its portfolio follow. Beginning with Year 1, prepare the appropriate journal entry to record each year-end market adjustment for these securities.
$$\begin{array} { l | l | l } \text { Available-for-Sale Securities } & \text { Cost } & \begin{array} { l } \text { Fair } \\\text { Value }\end{array} \\\hline \text { Year 1 } &\$ 4 0 4 , 5 0 0 & \$ 389,900 \\\hline \text { Year } 2 & 406,400 & 412,600 \\\hline \text { Year 3 } & 454,800 & 472,000 \\\hline\end{array}$$