B$1-35$ Fair value adjustment for equity investments; less than $20\%$ ownership

Malia Industries owned the following equity investments as of December $31,20$Y$3$:$$Issuing Company

Jolliff Co$.$

Polich Inc.

Shaklee Corporation

Cost

Fair Value

$ $82,50048,30027,700$ $$158,500$$ $$150,000$

$75,00050,00025,000$Issuing Company

JolliffCo.

Polich Inc.

Shaklee Corporation

Cost

$ $80,00045,00024,500$ $$149,500$

$20$Y$3$ and is less than $20\%$ ownership$$a$.$ What was the balance of Valuation Allowance for Equity Investments as of December $31,20$Y$3?$ b$.$ Journalize the adjustment to fair value for the equity investments as of December $31,20$Y$4.$

c$.$ After the adjustment in $($b$),$ what is the balance of Valuation Allowance for Equity Investments? d$.$ Does the change in fair value of the equity securities in $20$Y$4$ affect Malia Industries$$ net income?