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Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Cost Fair Value Short termi Blair, Inc. $ 498,000 $ 396,000 ANC Corporation 459,000 498.000 Totals $ 957,000 $ 894,000 Long term: Drake Corporation $ 490,000 $ 569,000 Aaron Industries 711,000 669,000 Totals $1,209,000 $1,238,000 Unrealized Holding Gain (Los) $(102,000) 39,000 $ (63,000) $ 71,000 (42,000) $ 29,000 Required: 1. Prepare appropriate adjusting entries at December 31, 2021. 2. What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate adjusting entry at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction lit Journal entry worksheet > Record the adjusting entry for December 31, 2021. Prex 1 of 8 III Next > Saved Homework Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate adjusting entry at December 31, 2021. (If no entry is required for a transaction/event required in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry for December 31, 2021. Note: Enter debits before credits General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general Journal (Required 1 Required 2 > MacBook Pro Check my wo Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Cost Fair Value Short term: Blair, Inc. $ 498,000 $ 396,000 ANC Corporation 459,000 498,000 Totals $ 957,000 $ 894,000 Long term Drake Corporation $ 498,000 $ 569,000 Aaron Industries 711,000 669,000 Totals $1,209,000 $1,238,000 Unrealized Holding Gain (Loss) $(102,000) 39,000 $ (63,000) $ 71,000 (42,000) $ 29,000 Required: 1. Prepare appropriate adjusting entries at December 31, 2021. 2. What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Amount