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At December 31, 2021, the trading investments for Splish Brothers Inc., are as follows:

Security			Investment Category		Carrying Value			Fair Value
Co. A common shares			FVTPL		$16,500			$14,400
Co. B preferred shares			FVTPL		11,300			12,500
Co. C common shares			FVTOCI		20,500			17,100
	Totals				$48,300			$44,000

Prepare the adjusting entries required at December 31 to report the above investments at fair value. (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 titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	OCI-Holding Gain or LossShort-Term Investments at FVTOCIEquityInvestment Income or LossInvestments at FVTPLCashInvestments at FVTOCI
	Short-Term Investments at FVTOCIEquityInvestments at FVTPLOCI-Holding Gain or LossInvestment Income or LossInvestments at FVTOCICash
	(To record fair value adjustment of FVTPL investments.)
	CashInvestment Income or LossOCI-Holding Gain or LossShort-Term Investments at FVTOCIEquityInvestments at FVTOCIInvestments at FVTPL
	Investments at FVTPLInvestments at FVTOCICashShort-Term Investments at FVTOCIEquityInvestment Income or LossOCI-Holding Gain or Loss
	(To record fair value adjustment FVTOCI investments.)

Show the financial statement presentation of the investments and the holding gains and losses that result from fair value adjustments at December 31, 2021. (Ignore income tax.) (Show negative amounts with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

SPLISH BROTHERS INC. Balance Sheet (Partial) For the Month Ended December 31, 2021For the Year Ended December 31, 2021December 31, 2021
Property, Plant and EquipmentIntangible AssetsStockholders' EquityNon-Current AssetsNon-Current LiabilitiesCurrent AssetsCurrent Liabilities
Short-Term Investments at Market Value Through Profit or LossEquityInvestments at Fair Value through Profit or LossInvestments at Fair Value through Other Comprehensive IncomeLong-Term Investments at Market Value Through Other Comprehensive IncomeEquity		$
Stockholders' EquityNon-Current LiabilitiesCurrent LiabilitiesCurrent AssetsIntangible AssetsNon-Current AssetsProperty, Plant and Equipment
Long-Term Investments at Market Value Through Other Comprehensive IncomeEquityInvestments at Fair Value through Other Comprehensive IncomeShort-Term Investments at Market Value Through Profit or LossEquityInvestments at Fair Value through Profit or Loss

SPLISH BROTHERS INC. Comprehensive Income Statement (Partial) December 31, 2021For the Month Ended December 31, 2021For the Year Ended December 31, 2021
Income / (Loss)Other RevenuesOther ExpensesTotal RevenuesOther Comprehensive IncomeTotal Expenses
Investment Income or LossHolding Gain or Loss		$
Other Comprehensive IncomeTotal RevenuesOther RevenuesIncome / (Loss)Total ExpensesOther Expenses
Investment Income or LossHolding Gain or Loss		$

Assuming that on March 20, 2022, Splish Brothers sold Co. B preferred shares for $12,200, prepare the journal entry to record this transaction. (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 titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 20	Investments at FVTPLLoss on Sale of FVTPL InvestmentsInvestment Income or LossCashOCI-Holding Gain or Loss
	Investment Income or LossInvestments at FVTPLCashLoss on Sale of FVTPL InvestmentsOCI-Holding Gain or Loss
	Investment Income or LossCashInvestments at FVTPLLoss on Sale of FVTPL InvestmentsOCI-Holding Gain or Loss
	(To record sale of investment.)

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