The cost and fair value of non$-$strategic investments of International Journalist Corporation on December $31,2023,$ and December $31,$

$2024,$ are as follows:

Required:

Prepare the fair value adjustment at December $31,2023,$ and December $31,2024,$ based on the information provided. Illustrate how the non$-$strategic investments will be reported on the December $31,2023,$ and December $31,2024,$ balance sheets.

INTERNATIONAL JOURNALIST CORPORATION

Partial Balance Sheet

December $31,2023$The cost and fair value of non$-$strategic investments of International Journalist Corporation on December $31,2023,$ and December $31,2024,$ are as follows:

Cost Fair Value

On December $31,2023$ $ $26,000$ $ $23,250$

On December $31,202427,75029,850$