On March 10, 2023, Dearden, Incorporated, purchased 10,900 shares (2 percent) of Jaffa stock for $47 per share. Management intends to hold the securities long term. Deardens year ends on December 31. The following information pertains to the price per share of Jaffa stock:

	Stock Price
12/31/2023	$ 45
12/31/2024	48
12/31/2025	44

Dearden sold all of the Jaffa stock on September 12, 2026, at a price of $42 per share.

Prepare any journal entries that are required by the facts presented in this case.

Record the purchase of investments on March 10, 2023.

Record the change in the fair value of the investments on December 31, 2023.

Recognize the fair value of investments on December 31, 2024.

Record the change in the fair value of the investments on December 31, 2025.

Record the change in the fair value of the investments on September 12, 2026

Reclassify any gain or loss on the sale of the investments on September 12, 2026.

Record the cash received from the sale of the investment on September 12, 2026.