Duringthe most recent year, Smither Travelers Co. bought 3,400 shares of German Corporation common stock at $37, 630 shares of British Corporation stock at $47.00, and 1,400 shares of MilanCorporation stock at $76. At December 31, Hoover’s Online reports German stock at $28.88,British at $49.00, and Milan at $69.25. Smither Travelers does not own more than 10% of theoutstanding stock in any of its investments.Requirements1. Determine the cost and the fair value of the long-term investment portfolio at December 31.2. Record Smither Travelers’ adjusting entry at December 31.3. What would Smither Travelers report on its income statement and balance sheet at year-endfor the information given? Ignore income taxes

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.