Jupiter Bаnk decides tо invest in trаding securities in оrder tо tаke advantage of short-term gains. The bank purchased the following securities for the year 2017. Jan. 15, 2017 Purchased 1,000 shares of Corbin Company common stock for $89 per share May 23, 2017 Purchased 1500 shares of Petro Company common stock for $75 per share At the end of 2017 Corbin Company's common stock was trading on the market at $93 per share, and Petro's common stock had a market price of $70 per share. Required: Prepare journal entries to record the preceding information and the fair market value adjustment at December 31, 2017.