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 Holdirn Gain (Loss) Cost Fair Value Short tere: Blair, Inc. ANC Corporation $ 580,800 s 395,008$(185,000) 460,000588,00 s 968,800 $ 895,800 Totals s (65,080) Long term: Drake Corporation s s00,800 s 570,000 s 70,000 710,000 679,000 (4e,e60) s 38,ee0 Aaron Industries Totals $1,210,e0e $1,248,eee 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 ournal entry worksheet Record the adjusting entry for December 31, 2018. Required: 1. Prepare appropriate adjusting entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry nuired" 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 Record entry Clear entry View general journal Record entry Clear entry View general journal 2. What amounts would be reported in the income statement at December 31, 2018, as a result of these adjusting entries