Maxim Corp. had the following investments in its long- term investment portfolio accounted for at fair value through other comprehensive income ( FV- OCI) on December 31, 2022:

Investment	Cost and carrying value Maxim	Fair Value
1,500 shares of NS Inc. Common	$170,000	$165,000
5,000 shares of Bell Aliant common	362,000	372,000
400 shares of Ace Corp. preferred shares	142,000	143,000
Total	$674,000	$680,000

All the investments were purchased in 2022. Maxim follows IFRS and applies the FV- OCI model without recycling. In 2023, Maxim completed the following transactions:

Mar. 1 Sold the 1,500 shares of NS Inc. common at $ 85 per share, less fees of

$ 2,100.

Apr. 1 Bought 900 shares of Cleo. Corp. common at $ 145 per share, plus fees of

$ 2,200.

Required:

Prepare the journal entry for Maxim Corp for:

The 2022 valuation adjusting entry.

The sale of the NS Inc. shares.

The purchase of the Cleo Corp. shares.