Journal entry worksneet 34567 Record the acquisition of Distribution Transformers Corporation common stock for $470,000. Note: Enter debits before credits. Journal entry worksheet 123456 Record the entry to adjust fair value of the investments at year-end. Nate: Enter debits before credits. Journal entry worksheet Record the entry for dividend received on the Distribution Transformers common stock. Note: Enter debits before credits. Journal entry worksheet 2 7 Record the entry to adjust to fair value on the date of sale of the Distribution Transformers common stock. Note: Enter debits before credits. Journal entry worksheet Record the entry for sale Distribution Transformers common stock for $02,000. Note Inter debits before credits. Complete this question by entering your answers in the tabs below. Indicate any amounts that Ornamental Insulation would report in its 2024 income statement, 2024 statement of comprehensive income, and 12/31/2024 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. Ignore income taxes. Journal entry worksheet 12 Record the acquisition of $1,470,000 of M8D Corporation common stock. Note: Enter sobits before credits. The following selected transactions relate to investment activities of Omamental Insulation Corporation during 2024. The company buys equity securities as noncurrent investments. None of Omamental's investments are large enough to exert significant influence on the investee. Omamental's fiscal year ends on December 31 . No investments were held by Omamental on December 31,2023. March 31 Acquired Distribution Transformers Corporation comon stock for $470,000. September 1 Acquired $1,005,000 of American Instruments. comeon stock. September 30 Received a $14,100 dividend on the Distribution Transformers connon stock. october 2 Sold the Distribution Transformers common stock for $502,000. November 1 Purchased $1,470,000 of MSD Corporation comon stock. Decenber 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investitents are: Anerican Instruments common stock $$948,600$1,537,000 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2024 , as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2024 income statement, 2024 statement of comprehensive income, and 12/31/2024 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained carnings as a result of these investments. Ignore income taxes. Complete this question by entering your answers in the tabs below. Prepare the appropriate joumal entry for each transaction or event during 2024, as well as any adjusting entries necessary at year end. Prepare the appropriate joumai entry for each transaction or "No journal entry required" in the first account flaid. Note: if no entry is required for a transaction/event, select "No Journal entry worksheet 67 Record the acquisition of \$1,005,000 of American Instruments' common stock. Note: Enter debits before credits
