I answered everything correctly except for the values of the last journal entry

Blue SpruceCorporation made the following purchases of investments during 2020, the first year in whichBlue Spruceinvested in equity securities:

1- On January 15, purchased10,350shares of Nirmala Corp.'s common shares at $38.50per share plus commission of $2,277.

2- On April 1, purchased5,750shares of Oxana Corp.'s common shares at $60per share plus commission of $3,876.

3- On September 10, purchased8,050shares of WTA Corp.'s preferred shares at $30.50per share plus commission of $3,347.

On May 20, 2020,Blue Sprucesold3,450of the Nirmala common shares at a market price of $40per share less brokerage commissions of $3,278. The year-end fair values per share were as follows: Nirmala $35, Oxana $63, and WTA $32. The chief accountant ofBlue Sprucetells you thatBlue SpruceCorporation holds these investments with the intention of selling them in order to earn short-term profits from appreciation in their prices and accounts for them using the FV-NI model.

Assume thatBlue SpruceCorporation follows IFRS 9.

Prepare the journal entries to record the three investments.

Jan. 15 FV-NI Investments 398786

Investment Income or Loss 2277

Cash 401063

April. 1 FV-NI Investments 345000

Investment Income or Loss 3876

Cash 348876

Sep. 10 FV-NI Investments 245364

Investment Income or Loss 3347

Cash 248711

Prepare the journal entry for the sale of the3,450Nirmala shares on May 20.

Cash 134722

FV-NI Investments 132825

Gain on Disposal of Investments - FV-NI 1897

Prepare the adjusting entry needed on December 31, 2020.

December 31. FV-NI Investments ?

Investment Income or Loss ?