D Ltd. has an investment with an original cost of $100,000, purchased in 20X1. The investment was accounted for using the cost method in 20X1, 20X2, and 20X3. The investment had a fair value of $120,000 at the end of 20X1, $210,000 at the end of 20X2, and $160,000 at the end of 20X3. It is now the end of 20X4, and the investment has a fair value of $175,000. The company realizes at the end of 20X4 that it should have been accounting for the investment at fair value through other comprehensive income. There is no income tax.

Required:
1. Calculate the amounts of the adjustments that should be made to opening retained earnings in the comparative statements of changes in equity for each of 20X1, 20X2, 20X3, and 20X4.
2. Prepare appropriate 20X4 journal entries for this situation.