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 $ 480,000 $ 405,000 450,000 480,000 $ 930,000 $ 885,000 $(75,000) 30,000 $(45,000) Short term: Blair, Inc. ANC Corporation Totals Long term: Drake Corporation Aaron Industries Totals $ 480,000 $ 560,000 720,000 660,000 $1,200,000 $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