In January 2022, the management of Cullumber Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred.

Jan.	1		Purchased 70 $1,000, 9% TRC bonds for $70,000. Interest is payable annually on December 31.
Feb.	1		Purchased 1,230 shares of LAF common stock for $54,120.
Mar.	1		Purchased 530 shares of NCL common stock for $20,670.
July	1		Received a cash dividend of $0.80 per share on the LAF common stock.
Aug.	1		Sold 215 shares of LAF common stock at $43 per share.
Sept.	1		Received $2 per share cash dividend on the NCL common stock.
Dec.	31		Received the annual interest on the TRC bonds.
	31		Sold the TRC bonds for $71,998.

At December 31, the fair values of the LAF and NCL common stocks were $40 and $32 per share, respectively. These stock investments by Cullumber Company provide less than a 20% ownership interest.

Prepare the adjusting entry at December 31, 2022, to report the investments at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)