Exercise 2 Debt Investment-AFS Loreal-American Corporation purchased several marketable securities during 2018.Ar December 31,2018, the company had the investments in bonds listed below, None was held at the last reporting dae available-for-sale December 31,2017, and all are considered securities Unrealized Holding Gain (Loss) Cost Fair Value Short term 400,000 50.000 405,000 00,000 005000 (75,000 lair, Inc ANC Corporation 0,000 $ 145 Total Long torm Drake Corporation aron Industrie 400,000 720,000 1.200,000 560,000 660,000 1.220000 00,000 (60,000 20000 Total Required: 1. Prepare appropriate adjusting entries at December 31, 2018