The cost and fair value of non strategic investments of IP

The cost and fair value of non-strategic investments of IP Corporation on December 31, 2014, and December 31, 2015, are as follows:


Required
1. Prepare the valuation adjustment at December 31, 2014, and December 31, 2015, based on the information provided.
2. Illustrate how the non-strategic investments will be reported on the December 31, 2014, and December 31, 2015, balancesheets.

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