The janjua company has the following account balances at january 1st 2016 common stock $50,000 treasury cost(at cost )$12,000 paid in capital in excess par, 200,000 investment in available for sale equity seruicity $37,000, fair value adjustment (Afs) $2500 credit in retained earning $35,000. On that date ,the accumulated oci account was at its proper balance. There was no sale or purchase of common stock or investment during 2016.prior to any adjusting journal entries related to the investment, 2016 net income was $7800. no other transaction affected retain earning occured. fair value of the investment at decemeber 31 2016 was $34,700. required.(A) prepare the december 31 2016 journal entry to adjust the investment to fair value. B) prepare the 31-2016 equity section of the balance sheet.