The cost and fair value of non-strategic investments of International Journalist Corporation on December 31, 2020, and December 31. 2021, are as follows: Cost Fair Value On December 31, 2020 $24,500 $22,5ee On December 31, 2021, 27,000 28,350 Required: 1. Prepare the fair value adjustment at December 31, 2020, and December 31, 2021, based on the information provided View transaction list Journal entry worksheet < 1 2 Record the fair value adjustment. 1. Prepare the fair value adjustment at December 31, 2020, and December 31, 2021, based on the information provided. View transaction list Journal entry worksheet 2 Record the fair value adjustment. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2020 Investments - various Investment income (Loss) 2. Illustrate how the non-strategic investments will be reported on the December 31, 2020, and December 31, 2021, balance sheets INTERNATIONAL JOURNALIST CORPORATION Partial Balance Sheet December 31, 2020 Assets Current assets: Investments At fair value $ 22,500 INTERNATIONAL JOURNALIST CORPORATION Partial Balance Sheet December 31, 2021 Assets Current assets: Investments At cost price At fair value E 49,500