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. Cost Fair Value $ $ 480,000 450,000 930,000 405,000 480,000 885,000 Unrealized Holding Gain (Loss) $175,000) 30,000 $(45,000) $ $ Short term: Blair, Inc. ANC Corporation Totals Long term Drake Corporation Aaron Industries Totala $ 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.) View transaction list Journal entry worksheet 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. Cost Fair Value Unrealized Holding Gain (Loss) $ $ 480,000 450,000 930,000 405,000 480,000 885,000 $(75,000) 30,000 $(45,000) $ $ short term: Blair, Inc. ANC Corporation Totals Long term: Drake Corporation Aaron Industries Totals $ 480,000 720,000 $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 What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? Amount