Culver Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $77,600 $73,200 5,000 shares of Wallace Corp., Common 172,900 167,700 400 shares of Martin, Inc., Preferred 63,500 65,100 $314,000 $306,000 All of the securities were purchased in 2017. In 2018, Culver completed the following securities transactions. March 1 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. Culver’s portfolio of equity securities appeared as follows on December 31, 2018. Investments Cost Fair Value 5,000 shares of Wallace Corp., Common $172,900 $167,700 700 shares of Earnhart Corp., Common 53,800 50,100 400 shares of Martin, Inc., Preferred 63,500 61,700 $290,200 $279,500 Prepare the general journal entries for Culver Company for: (a) The 2017 adjusting entry. (b) The sale of the Gordon stock. (c) The purchase of the Earnhart stock. (d) The 2018 adjusting entry for the trading portfolio.