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) Fair Value $ Cost Short term: Blair, Inc. $ 518,000 ANC Corporation 469,000 Totals $ 987,000 Long term: Drake Corporation $ 518,000 Aaron Industries 701,000 Totals $1,219,000 386,000 518,000 904,000 $(132,000) 49,000 $ (83,000) $ $ 579,000 679,000 $1,258,000 $ 61,000 (22,000) $ 39,000 Required: 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? 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.) View transaction list X 1 Record the adjusting entry for December 31, 2021. 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) Fair Value $ Cost Short term: Blair, Inc. $ 518,000 ANC Corporation 469,000 Totals $ 987,000 Long term: Drake Corporation $ 518,000 Aaron Industries 701,000 Totals $1,219,000 386,000 518,000 904,000 $(132,000) 49,000 $ (83,000) S $ $ 579,000 679,000 $1,258,000 61,000 (22,000) 39,000 S Required: 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Amount