The Janjua Company had the following account balances at 1/1/16:

Common Stock	$50,000
Treasury Stock (at cost)	12,000
Paid-in-Capital in Excess of Par	200,000
Investments in AFS Equity Securities	37,000
FVA (AFS)	2,500 credit
Retained Earnings	35,000

There were no sales or purchases of Common Stock or Investments during 2016. Prior to any adjusting journal entries related to the investments, 2016 Net Income was $7,800. No other transactions affecting Retained Earnings occurred. Fair Value of the Investments at 12/31/2016 was $34,700.

On 1/1/16, the Accumulated OCI account was at its proper balance.

REQUIRED:

a) Prepare the 12/31/16 journal entry to adjust the investment to fair value.

b) Prepare the 12/31/16 Equity section of the balance sheet.