Keyser’s Fleece owns a herd of sheep. Keyser shears the sheep on a semiannual basis and then sells the harvested wool into the specialty knitting market. Keyser has the following information related to the shearing sheep at January 1, 2022, and during the first 6 months of 2022.

Shearing sheep
Carrying value (equal to net realizable value), January 1, 2022 ....... €74,000
Change in fair value due to growth and price changes ........................ 4,700
Change in fair value due to harvest .......................................................... (575)
Wool harvested during the first 6 months (at NRV) ............................... 9,000

Prepare the journal entry (or entries) for Keyser’s biological asset (shearing sheep) for the first 6 months of 2022.