Wind Industries had selected unadjusted balances as shown below at year-end. A search on the Internet showed fair values on December 31, 2017, of: CashCo, $18; Wells, $0.70. Prepare the appropriate entry on December 31, 2017, to record the valuation adjustment.

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Non-strategic Investments CashCo shares (21,250 shares)... Wells shares (45,000 shares) ... Unadjusted Balance at Dec. 31/17 $340,000 34,000