Pacific Fishing Inc.'s actively traded non-strategic investments as of December 31, 2020, are as follows: Enviroclean common shares Northern Utilities common shares Imperial Oil common shares Farmer Solar Limited common shares Cost $17,800 42,950 25,400 35, eee Fair Value $19,750 42,210 24,410 32,119 Pacific Fishing Inc. had no investments prior to 2020. Required: 1. Prepare the fair value adjustment at December 31, 2020, based on the information provided. View transaction list Journal entry worksheet earch C Journal entry worksheet 1 Record the fair value adjustment. Note: Enter debits before credits General Journal Debit Credit Date Dec 31, 2020 Record entry Clear entry View general journal 2. Illustrate how the investments will be reported on the December 31, 2020, balance she 2. Illustrate how the investments will be reported on the December 31, 2020, balance sheet. Current assets Investments Prey 30 of 43 Next >