Check my word 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 FF&G Corporation bonds for $14 million. 13 Purchased 2 million shares of Ferry Intercommunications common stock for $26 million. American does not have significant influence over Ferry's operations or policies. 15 Sold the FF&G Corporation bonds for $14.2 million. 22 Purchased U.S. Treasury bills for $52 million and Treasury bonds for 567 million. 23 Sold half the shares of Ferry Intercommunications common stock for $11 million. 26 Sold the U.S. Treasury bills for $54 million 27 Sold the Treasury bonds for $66 million 28 Received cash dividends of $200,000 from the Ferry Intercommunications common stock shares. 31 Recorded any necessary adjusting entry relating to the remaining investment. The market price of the Ferry Intercommunications stock was $11 per share. 2022 Dan. 2 sold the remaining Ferry Intercommunications common stock shares for $11.2 million. 5 Purchased Warehouse Designs Corporation bonds for $36 million. Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. 2. Indicate any amounts that American would report in its 2021 balance sheet and income statement as a result of these investments. 3. Prepare the appropriate journal entry for each transaction or event during 2022 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is na HAFA BB Next > ($ in millions) Balance sheet: 4 Current Assets Investments in equity securities Less: Fair value adjustment Total $ 0.0 Income statement: Other revenue (expenses): Gain on investments (December) Loss on investments (December) Total interest and dividend revenue Gain (loss) on investments: $ 0.0 Dividend revenue (December) Gain on investments (December) Gain on investments (first 11 months) Interest revenue (first 11 months) 0.0 Total other revenue (expenses) Prev 1 of 5 Nex Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2022. (If.no entry is required for a transaction/eve "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,0 be entered as 5.5).) View transaction list View journal entry worksheet No Debit Credit 1 Date General Journal January 02, 2022 Fair value adjustment Gain on investyent (unrealized, NI) 2 January 02, 2022 Cash Investment in equity securities 3 January 05, 2022 Investment in bonds Cash