Paselts Bercise 153 Fale value adjustments at yearend 103 CHECK FIGURES: Dec 31, 2020 investment loss = $2,660 Pacific Pabling Inc.'s actively traded non-strategic investments at of December 31, 2020, are as follows: Cost Fair Value Enviroclean common shares Northern Utilities common shares Imperial Oil common shares Farmer Solar Limited common shares $17.700 $19,600 42,850 42,130 25,300 24.330 34,900 32,030 Pacific Fishing loc. had no investments prior to 2020 Required 1. Prepare the fair value adjustment at December 31, 2020, based on the information provided. 2. Mustrate how the investments will be reported on the December 31, 2020, balance sheet. Exercise 15-4 Fair value adjustments at year-end L03 CHECK FIGURES: 2. Dec 31, 2020 - $22,000; Dec 31, 2021 - $27,350 The cost and fair value of non-strategic investments of International Journalist Corporation on December 31, 2020, and December 31, 2021, are as follows: On December 31, 2020 On December 31, 2021 Cost Fair Value $23.500 $22.000 26,500 27,350 Required 1. Prepare the fair value adjustment at December 31, 2020, and December 31, 2021, based on the information provided. 2. Illustrate how the non-strategic investments will be reported on the December 31, 2020, and December 31, 2021. balance sheets