五 ' Kings Company has the following portfolio of inveslnienL securities al Dec. 31, 2004, its Iasi; reporting date.

  On May 10，2005, tlie Fogelberg shares were sold at a price of $50 per share. In addition， 4,000 shares of Los Tigers common slock were acquired at $59. 50 per share on July 2，2005. The December 31, 2005, fair values were: Petra $130,000, Los Tigres $232，000, and the ffeisberg common $198,000. All the securities are classified as Available for sale. Required: Prepare the journal entries to record the sale, purchase, and adjusting entries related to the available for sale securities from December 31， 2004 to December 31，2005.(20%)