Suppose that in January 2022, this equipments projected cash flows are $450,000 and the fair value increased

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Suppose that in January 2022, this equipment’s projected cash flows are $450,000 and the fair value increased to $260,000. Prepare the journal entry, if necessary, to account for this fair value increase, assuming:

Petro continues to use the equipment in operations.
Petro decides to sell the equipment; thus, the equipment has been “marked for sale.”
Petro continues to use the equipment in operations, but instead of reporting under GAAP, Petro reports under IFRS.