Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2017, and all are considered securities available-for-sale Unrealized Holding Gain (Loss) Cost Fair Value Short term: Blair, Inc. ANC corporation $ 488,000 401,000 454,000 488,0 $ 942,000 889,000 $(87,000) 34,000 $(53,000) Totals Long term: Drake Corporation 488,000 Aaron Industries 564,000 $ 76,000 (52,000 $ 24,000 716,000 6t00 Totals $1,204,000 $1,228,000 Required: 1. Prepare appropriate adjusting entries at December 31, 2018. (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, 2018 Note: Enter debits before credits Event General Journal Debit Credit 2. What amounts would be reported in the income statement at December 31, 2018, as a result of these adjusting entries? mount