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Pacific Fishing Inc.s actively traded non-strategic investments as of December 31,2023, are as follows: ...

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Accounting

Pacific Fishing Inc.s actively traded non-strategic investments as of December 31,2023, are as follows:
Cost Fair Value
Enviroclean common shares $ 17,600 $ 19,450
Northern Utilities common shares 42,75042,050
Imperial Oil common shares 25,20024,250
Farmer Solar Limited common shares 34,80031,950
Pacific Fishing Inc. had no investments prior to 2023.
Required:
1. Prepare the fair value adjustment at December 31,2023, based on the information provided.
2. Illustrate how the investments will be reported on the December 31,2023, balance sheet.

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