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E 12-17 The accounting records of Jamaican Importers, Inc., at January 1, 2021, included the following: Equity investments, fair value through net income .LO12-5 Assets:

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E 12-17 The accounting records of Jamaican Importers, Inc., at January 1, 2021, included the following: Equity investments, fair value through net income .LO12-5 Assets: Investment in IBM common shares $1,345,000 Less: Fair value adjustment (145,000) $1,200,000 No changes occurred during 2021 in the investment portfolio. Required Prepare appropriate adjusting entry(s) at December 31, 2021. assuming the fair value of the IBM common shares 1. S1.175.000 2. $1.275,000 3. S1,375,000

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