Homework $[$due Day $7]($i$)$

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during $2024.$ 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 $31,2023.$

March $31$ Acquired $8$r Distribution Transformers Corporation bonds costing $$420,000$ at face value.

September $1$ Acquired $$960,000$ of American Instruments' $10\%$ bonds at face value.

September $30$ Received semiannual interest payment on the Distribution Transformers bonds.

October $2$ Sold the Distribution Transformers bonds for $$455,000.$

November $1$ Purchased $$1,500,000$ of M&D Corporation $6\%$ bonds at face value.

$\backslash$table$[[$American Instruments bonds,$$912,000$