apter 12 Problems 10 The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017 Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing S55e,000 at face value. Sep. 1 Acquired $1,358,008 of Anerican Instrunents' 1ex bonds at face value. sep. 3e Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $595,800. Nov. 1 Purchased $2,150,000 of M&D Corporation 6% bonds at face value. eBook Dec. 31 Recorded any necessary adjusting entry(5) relating to the investments. The market prices of the investments are: Americen Instruments bonds H&D Corporation bonds $1,385,eee $2,225,00e Prinm Hint: Interest must be accrued.) References (Hint Required: 1. Prepare the appropriate journal entry for each trensaction or event during 2018, as well as any adjusting entries necessary at year end 2. Indicate any amounts that Orna income, and 12/31/2018 balance sheet as a result of these investments mental Insulation would report in its 2018 income statement, 2018 statement of comprehensive Complete this question by entering your answers in the tabs below Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive Income, and 12/31/2018 balance sheat as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.)