EXERCISE 9 - 9 ( FV - NI Equity Investment Entries ) Activet Corporation , a Canadian- based international company that fol - lows IFRS 9 , has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV - NI method on December 31 , 2016 : Investments Carrying Amount ( before adjustment ) Fair Value 1 , 500 shares of David Jones Inc ., common $ 71, 500 $ 69, 000 5, 000 shares of Hearn Corp ., common 180,000 175, 000 400 shares of Alessandro Inc., preferred 50, 000 61, 600 $ 311, 50.0 $ 305, 600 In 2017 , Activet completed the following securities transactions :" Mar . 1 Sold the 1 , 500 shares of David Jones Inc . common at $ 45 per share , less fees of $ 500 . Apr . 1 Bought 700 shares of Oberto Led . common at $ 75 per share , plus fees of $ 1 , 300 . Activet Corporation's portfolio of trading securities appeared as follows on December 31 , 2017 : Investments Original Cost Fair Value 5, 0.00 shares of Hearn Corp ., common $ 180, 00.0 $ 175, 000 700 shares of Oberto Led ., common 52, 500 50, 400 40.0 shares of Alessandro Inc. , preferred 60, 000 58, 000 $ 292, 50.0 $ 283, 400 Instructions Prepare the Activet Corporation general journal Entries for the following , assuming the company does not recognize and report dividends and other components of investment gains and losses separately* ( a ) The December 31 , 2016 adjusting Entry ( b ) The sale of the David Jones Inc . shares* ( C ) The purchase of the Oberto Led . shares ( d ) The December 31 , 2017 adjusting entry