Trading equity securities.Korman Company has the followingsecurities in its port

Trading equity securities.Korman Company has the followingsecurities in its portfolio of trading equity securities onDecember 31 2010: CostFair Value5000 shares of Thomas Corp.Common$155000$13900010000 shares of Gant Common 182000 190000$337000$329000All of the securities had been purchased in 2010. In 2011Korman completed the following securities transactions: March 1Sold5000 shares of Thomas Corp. Common @ $31 less fees of$1500.April 1Bought 600 shares of Werth Stores Common @ $45 plusfees of $550.The Korman Company portfolio of trading equity securitiesappeared as follows on December 31 2011: CostFair Value10000 shares of Gant Common$182000$195500600 shares of Werth Stores Common 27550 25500$209550$221000InstructionsPrepare the general journal entries for KormanCompany for:(a) the 2010 adjusting entry.(b) the sale of the ThomasCorp. stock.(c) the purchase of the Werth Stores stock.(d) the2011 adjusting entry