The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following:

Assets:
Investment in IBM common shares	$	1,945,000
Less: Fair value adjustment		(205,000	)
	$	1,740,000

No changes occurred during 2018 in the investment portfolio.

Required:
Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was:

$1,345,000

$1,790,000

$1,970,000