American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first 11 months of 2021. gains from selling trading securities totaled $6 million, losses from selling trading securities were $13 million, and the company had earned $5 million in interest revenue. The following selected transactions relate to American's investments in trading securities and equity securities during December 2021, and the first week of 2022. The company's fiscal year ends on December 31 No trading securities or equity Investments were held by American on December 1, 2021. Assume that the bonds are purchased at face value 2021 Dec. 12 Purchased FFAG Corporation bonds for $18 million. 13 Purchased 2 million shares of Ferry Intercommunications Connon stock for $20 million. Anerican does not have significant influence over Ferry't operations or policies. 15 Sold the FFG Corporation bonds for $16.3 million 22 Purchased U.S. Trenry bills for $86 million and Trearury bonde for 384 million 23 Sold halt the shares of Ferry Intercomunication common stock for $12 million. 26 Sold the U.S. Treasury bills for $93 million. 27 Sold the Treasury bonds for $80 million 28 Received cash dividends of $200.000 from the Ferry Interconnunications Connon stock shares. 31 Recorded sny necessary adjusting entry relating to the remaining investment. The market price of the Ferry Intercommunications stock was $12 per share. 2022 Jan 2 Sold the remaining Ferry Intercommunications conkon stock shares for $13.4 million 5. Purchased Varehouse Derine Corporation bonde for 153 million. Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. 2. Indicate any amounts that American would report in its 2021 balance sheet and income statement as a result of these investments 3. Prepare the appropriate journal entry for each transaction or event during 2022 Complete this question by entering your answers in the tabs below. Required Required 2 Required Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries (i no entry required for a transaction event, select journal entry required in the first account field Enter your answers in ons rounded to 1 decimal place, 16. 5.500.000 should be entered 5.5).) Journal entry worksheet