1. Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2017, and all are considered securities available-for-sale.

Unrealized Holding Gain (Loss) Cost Fair Value Short term: Blair, Inc ANC Corporation $ 482,000 404, 000 482,000 $ 933,000 $ 886,000 $(78,000) 31,000 $(47,000) 451,0004 Totals Long term: Drake Corporation Aaron Industries 482,000 561,000 719,000661,000 $1,201,000 1,222, 000 $ 79,000 Totals $ 21,000 Required 1. Prepare appropriate adjusting entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the adjusting entry for December 31, 2018 Note: Enter debits before credits. Event General Journal Debit Credit 1Unrealized holding loss-Oc Fair value adjustment Record entry Clear entry View general journal 2. What amounts would be reported in the income statement at December 31, 2018, as a result of these adjusting entries