Loreal American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale Short term: Blair, Inc. ANC Corporation Totals Long term: Drake Corporation Aaron Industries Totals Cost Fair Value 5 494,000 $ 398,000 457,000 494,000 $ 951,000 $ 892,000 $ 494,000 $ 567,000 713,000 667,000 $1,207,000 $1,234,000 Unrealized Holding Gain (Loss) $(96,000) 37,000 $(59,000) $ 73,000 (46,000) $ 27,000 Required: 1. Prepare appropriate adjusting entries at December 31, 2021 2. What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate adjusting entry at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for December 31, 2021. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Short term: Blair, Inc. ANC Corporation Totals Long term: Cost Fair Value $ 494,000 $ 398,000 494,000 457,000 $ 951,000 $ 892,000 Drake Corporation $ 494,000 $ 567,000 Aaron Industries Totals 713,000 $1,207,000 667,000 $1,234,000 Unrealized Holding Gain (Loss) $(96,000) 37,000 $(59,000) $ 73,000 (46,000) $ 27,000 Required: 1. Prepare appropriate adjusting entries at December 31, 2021. 2. What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Amount < Required 1 Required 2