On December 21 2012 Zurich Company provided you with the following information r

On December 21 2012 Zurich Company provided you with the following information regarding its trading securities.December 31 2012Investments (Trading)CostFair ValueUnrealized Gain (Loss)Stargate Corp. stock$20320$19320$(1000)Carolina Co. stock109409940(1000)Vectorman Co. stock2032021010690Total of portfolio$51580$50270(1310)Previous fair value adjustment balance0Fair value adjustmentCr.$(1310)During 2013 Carolina Company stock was sold for $10490. The fair value of the stock on December 31 2013 was: Stargate Corp. stock$19600; Vectorman Co. stock$20830.(a)Prepare the adjusting journal entry needed on December 31 2012.(b)Prepare the journal entry to record the sale of the Carolina Company stock during 2013.(c)Prepare the adjusting journal entry needed on December 31 2013.