$31,2023.$

March $31$ Acquired Distribution Transformers Corporation common stock for $$550,000.$

September $1$ Acquired $$1,125,000$ of American Instruments' common stock.

September $30$ Received a $$22,000$ dividend on the Distribution Transformers common stock.

$0$ctober $2$ Sold the Distribution Transformers common stock for $$590,000.$

November $1$ Purchased $$1,550,000$ of M&D Corporation common stock.

December $31$ Recorded any necessary adjusting entry$($s$)$ relating to the investments. The market prices of the investments are:

American Instruments common stock $$1,060,000$

M&D Corporation common stock $$1,625,000$

Required:

Prepare the appropriate journal entry for each transaction or event during $2024,$ as well as any adjusting entries necessary at

year end.

Indicate any amounts that Ornamental Insulation would report in its $2024$ income statement, $2024$ statement of comprehensive

income, and $12/31/2024$ balance sheet as a result of these investments. Include totals for net income, comprehensive income,

and retained earnings as a result of these investments. Ignore income taxes.