Hybrid Corporation began operations in 2018 and during that year purchased equity investments. It owns less than 20% of the voting shares for all companies whose stock it purchased. The year-end cost and fair values for its long-term investments in equity stock are shown below:

Cost Fair Value

December 31, 2018 $200,000 $180,000

December 31, 2019 $340,000 $375,000

December 31, 2020 $100,000 $ 60,000

Prepare journal entries to record each year-end’s fair value adjustment for the above securities.