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 Required: Unrealized Holding Cost Fair Value Gain (Loss) $ 510,000 465,000 $ 975,000 $ 390,000 510,000 $900,000 $(120,000) 45,000 $ (75,000) $ 510,000 $ 575,000 705,000 $1,215,000 675,000 $1,250,000 $ 65,000 (30,000) $ 35,000 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