Prepare the adjusting entry at December 31, 2022, to show the securities at fair value. Sandhill has less than a 20% ownership interest in all these common stocks (C Co.D Co. and E Co.). (Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts) Date Account Tities and Explanation Debit Credit Dec 31 e Textbook and Media List of Accounts Se for later Attempts: 0 of 3 used Submit Answers On December 31, 2021, the end of its first year of operations, Sandhill Associates owned the following securities that are held as long-term investments Common Stock Shares Cost CCо. 940 $47.940 D C 5,110 35.770 E Co. 1.209 22.971 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2022. the following transactions occurred. July 1 Aug 1 Sept. 1 Oct. 1 Received $2.00 per share semiannual cash dividend on D Co.common stock. Received $0.50 per share cash dividend on Co.common stock Sold 1,060 shares of DC.common stock for cash at $9 per share. Sold 324 shares of C Co.common stock for cash at $53 per share. Received $1 per share cash dividend on E Co. common stock. Received $0.50 per share cash dividend on Co.common stock. Received $2.30 per share semiannual cash dividend on D Co.common stock. Nov. 1 Dec 15 31 At December 31, the fair values per share of the common stocks were C Co. $50, D Co. 56.80, and E Co. $23. These investments should be classified as long-term.