Pacific Fishing Inc.$$s actively traded non$-$strategic investments as of December $31,2023,$ are as follows:

Cost Fair Value

Enviroclean common shares $ $17,600$ $ $19,450$

Northern Utilities common shares $42,75042,050$

Imperial Oil common shares $25,20024,250$

Farmer Solar Limited common shares $34,80031,950$

Pacific Fishing Inc. had no investments prior to $2023.$

Required:

$1.$ Prepare the fair value adjustment at December $31,2023,$ based on the information provided.

$2.$ Illustrate how the investments will be reported on the December $31,2023,$ balance sheet.