The investments of Charger Inc. include a single investment: 11,010 shares of Raiders Inc. common stock purchased on February 24, Year 1, for $39 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, Year 1, balance sheet date, the share price had increased to $42 per share. Required:A.Journalize the entries to acquire the investment on February 24, and record the adjustment to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles.B.How is the unrealized gain or loss for trading investments reported on the financial statements? Solution a) Journal entry : b) Unrealized gain or loss for trading investment reported on the financial statement that is recognized in net income.Dateaccount & explanationdebitcreditYear 1 Feb 24Investment in trading securities (11010*39)429390Cash429390(To record investment)Year 1 Dec 31Investment in trading securities (11010*3)33030Unrealized Gain-Trading securities33030(To record unrealized gain).