Construction Forms Corporation buys securities to be available for sale when circumstances warrant, not to profit from short-term differences in price and not necessarily to hold debt securities to maturity. The following selected transactions relate to investment activities of Construction Forms whose fiscal year ends on December 31. No investments were held by Construction Forms at the beginning of the year 2016 Mar. 2 Purchased 1 million Platinum Gauges, Inc., common shares for $21 million, including brokerage fees and commissions. Apr. 12 Purchased $10 million of 10% bonds at face value from Zenith Wholesale Corporation July 18 Received cash dividends of $4 million on the investment in Platinum Gauges, Inc., common shares Oct. 15 Received semiannual interest of $1 million on the investment in Zenith bonds Oct. 16 Sold the Zenith bonds for $12 million. Nov. 1 Purchased 500,000 LTD International preferred shares for $32 million, including brokerage fees and commissions Dec. 31 Recorded the necessary adjusting entry(s) relating to the investments. The market prices of the investments are $22 per share for Platinum Gauges, Inc., and S60 per share for LTD International preferred shares 2017 Jan. 23 Sold half the Platinum Gauges, Inc., shares for $22 per share Mar. 1 Sold the LTD International preferred shares for $62 per share Required 1. Prepare the appropriate journal entry for each transaction or event. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Debit Credit General Journal Date 21.0 March 02, 2016 Investment in Platinum Gauges, Inc., shares 21.0 Cash 10.0 2 April 12, 2016 Investment in Zenith bonds 10.0 Cash 4.0 July 18, 2016 Cash 4.0 Investment revenue 1.0 4 October 15, 2016 Cash 1.0 Investment revenue 12.0 October 16, 2016 Cash Investment in Zenith bonds Gain on sale of investments 10.0 2.0 32.0 6 November 01, 201 Investment in LTD preferred shares 32.0 Cash 1.00 December 31, 201(Net unrealized holding gains and losses-OCI Fair value adjustment 1.0 11.00 January 23, 2017 Cash 10.5 Investment in Platinum Gauges, Inc., shares Gain on sale of investments 0.5 31.0 March 01, 2017 Cash 1.00 Loss on sale of investments 32.0 Investment in LTD preferred share 2. Show the amounts that would be reported in the company's 2016 combined statement of net income and other comprehensive income relative to these investments. (Losses should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) 2016 Income Statement (partial) ($ in millions) Investment revenue Gain on sale of investments Other comprehensive income: Net unrealized holding gains (losses) on investments 8.0 2.5 1.0