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. Unrealized Holding Gain (Loss) Cost Fair Value Short term: Blair, Inc. ANC Corporation Totals Long term Drake Corporation haron Industries Totals $ 480,000 $405,000 450,000 480,000 $ 930,000 $ 885,000 $175,000) 30,000 $145,000) $ 480,000 720,000 $1,200,000 $ 560,000 660,000 $1,220,000 $ 80,000 (60.000) $ 20,000 Required: 1. Prepare appropriate adjusting entry 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.) No Debit Credit 1 Date General Journal December 31, 202 Gain on Investments (unrealized, OCI) Fair value adjustment 25,000 25,000 De