Eli Fish Corp. (EFI), a passive investor, owns various investments in debt and equity securities.

EFI's policy is to prepare journal entries for adjustments and accruals at year end. The company elects to reclassify reserves (accumulated other comprehensive income) to retained earnings upon derecognition of investments in equity securities at FVOCI-elect.

EFI engaged in various investment-related transactions as detailed below. All interest and dividend payments were received on the scheduled payment dates. While the resulting journal entries will all be entered to the nearest dollar, EFI rounds all dollar-based calculations to the nearest whole cent (for example, $50.22) and percentages to four decimal places (for example, 11.9876%). You should do likewise in your supporting calculations.

January 1, 20X1 i) EFI paid $17,500 for 500 common shares of Zoe Corp. and classified this investment at fair value through profit or loss (FVPL). ii) EFI paid $24,700 for 100 preferred shares of Meeks Inc. and irrevocably classified this investment at fair value through other comprehensive income (FVOCI-elect). The preferred shares each pay a dividend of $1.00 ($100 total) annually on June 30. iii) EFI paid $102,974 for a $100,000, 5.0% coupon bond issued by Zachary Lid. that pays interest on June 30 and December 31 each year. The bond matures on December 31, 20X9. EFI classified this investment at FVPL. iv) EFI paid $176,618 for a $200,000, 3.0% coupon bond issued by Belle Inc. that pays interest on June 30 and December 31 each year. The bond matures on December 31, 20X7. EFI classified this investment at fair value through other comprehensive income (FVOCI). v) EFI paid $292,189 for a $300,000, 4.0% coupon bond issued by Canaan Corp. that pays interest on June 30 and December 31 each year. The bond matures on December 31, 20X6. EFI classified this investment at amortized cost. December 31, 20X1 vi) The market values of the investments were as follows: Zoe Corp. $17, 100 Meeks Inc. $25,200 Zachary Ltd. $101,500 Belle Inc. $183,500 Canaan Corp. $287,600 January 1, 20X2 vii) EFI reclassified its investment in Zachary's bonds from FVPL to amortized cost. viii) EFI reclassified its investments in Belle's bonds from FVOCI to amortized cost. January 2, 20X2 ix) EFI sold some of its investments for the prices set out below: Zoe Corp. $17,400 Meeks Inc. $24,600 Canaan Corp. $288,000