Amalgamated General Corporation is a consulting firm that also offers financial services through its credit division. From time to time the company buys and sells securities. The following selected transactions relate to Amalgamated's Investment activities during the last quarter of 2018 and the first month of 2019. The only securities held by Amalgamated at October 1 were $60 million of 10% bonds of Kansas Abstractors, Inc., purchased on May 1 at face value and held in Amalgamated's trading portfolio. The company's fiscal year ends on December 31 2018 Oct. 18 Purchased 2 million preferred shares of Millwork Ventures Company for $78 million. 31 Received semiannual interest of $3.6 million from the Kansas Abstractors bonds. Nov. 1 Purchased 101 bonds of Holistic Entertainment Enterprises at their $84 million face value, to be held until they mature in 2025. Semiannual interest is payable April 30 and Detober 31. 1 Sold the Kansas Abstractors bonds for $53 million because rising interest rates are expected to cause their fair value to continue to fall. No realized gains and losses had been recorded on these bonds previously. Dec. 1 Purchased 120 bonds of Household Plastics Corporation at their $40 million face value, to be held until they mature in 2028. Semiannual interest is payable May 31 and November 30. 20 Purchased u. 5. Treasury bonds for $6.9 million as trading securities, hoping to earn profita os short-term differences in prices. 21 Purchased 4 million common shares of MS Corporation for $70 million, planning to earn profits from dividende er gain if prevailing market conditions encourage sale. 23 Sold the Treasury bonds for $7.5 million. 29 Received cash dividends of 33 million from the Millwork Ventures Company preferred shares. 31 Recorded any necessary adjusting entrys) and closing entries relating to the Investments. The market price of the Millwork Ventures Company preferred stock was $36.00 per share and $18.00 per share for the us Corporation common. The fair values of the bond investments were $55.6 million for Household Plastics Corporation and 518.0 million for Holistic Entertainment Enterprises. 2019 Jan. 7 sold the us Corporation common shares for $6 million Required: Prepare the appropriate journal entry for each transaction or event. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field. Do not round Intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (.., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 2 3 4 5 Record the purchase of 2 million preferred shares of Millwork Ventures Company for $78 million