Following Is Data for the Available-For-Sale Securities Held by Lindy

Following is data for the available-for-sale securities held by Lindy Company as of December 31:
$\begin{array}{|l|r|r|r|r|r|}\hline \text { Name } & {\begin{array}{c}\text { Number of } \\\text { Shares }\end{array}} & \begin{array}{c}\text { Cost } \\\text { per Share }\end{array} & \begin{array}{c}\text { Fair Value } \\\text { per Share }\end{array} & \text { Total Cost } & \begin{array}{c}\text { Total } \\\text { Fair Value }\end{array} \\\hline \text { Laurie, Inc. } & 1,200 & \$ 15.00 & \$ 15.40 & & \\\hline \text { Scott Corp. } & 800 & 8.00 & 8.25 & & \\\hline \text { Stephanie Company } & 700 & 14.40 & 13.50 & & \\\hline \text { Timmer Company } & 900 & 12.35 & 10.77 & & \\\hline \text { Total } & & & & &\\\hline\end{array}$
a. Complete the table above to find the total cost and fair value for the company's available­for­sale securities portfolio.
b. Calculate and record the required December 31 adjustment.
c. Explain how the adjustment from step 2 is reported on Lindy's financial statements.