Information regarding Carperk Company's individual investments in securities during its calendar-year 2013, along with the December 31, 2013, fair values, follows a. Investment in Brava Company bonds: $492,600 cost, $535,456 fair value. Carperk intends to hold these bonds until they mature in 2018. b. Investment in Baybridge common stock: 29,500 shares; $391,617 cost; $425,688 fair value. Carperk owns 32% of Baybridge's voting stock and has a significant influence over Baybridge. c. Investment in Buffa common stock: 12,000 shares; $201,966 cost; $217,719 fair value. This investment amounts to 3% of Buffa's outstanding shares, and Carperk's goal with this investment is to earn dividends over the next few years. d. Investment in Newton common stock: 3,500 shares; $112,313 cost; $110,404 fair value. Carperk's goal with this investment is to reap an increase in fair value of the stock over the next three to five years. Newton has 30,000 common shares outstanding. e. Investment in Farmers common stock: 16,300 shares; $123,150 cost; $130,785 fair value. This stock is marketable and is held as an investment of cash available for operations. Required: 1. Identify whether each investment should be classified as a short-term or long-term investment. For each long-term investment, indicate in which of the long-term investment classifications it should be placed.(Select "NA" in classification of long-term investment, if the type of investment is short term.) 2. Prepare a journal entry dated December 31,2013 to record the fair value adjustment of the long term investments in available for sale securities. Carperk had no long term investments prior to year 2013