gruden bancorp inc. purchased a portfolio of trading securities during year 1. the cost and fair value of this portfolio on december 31, year 1, was as follows: name number of shares total cost total fair value griffin inc. 1,400 $18,760 $17,630 luck company 650 21,320 19,830 wilson company 200 6,400 6,530 total $46,480 $43,990 on may 10, year 2, gruden bancorp inc. purchased 550 shares of carroll inc., at $32 per share plus a $60 brokerage commission. provide the journal entries to record the following: question content area a. the adjustment of the trading security portfolio to fair value on december 31, year 1.