!

Required information

Use the following information for the Exercises below. (Algo)

[The following information applies to the questions displayed below.] On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods.

Stock Investments	Cost	Fair Value
Apple stock	$ 5,900	$ 8,200
Chipotle stock	3,100	3,000
Under Armour stock	11,100	13,900

Exercise C-10 (Algo) Fair value adjustment to stock investments with insignificant influence LO P4

Prepare the December 31 adjusting entry to report these investments at fair value.