Loreal-American Corporation purchased several marketable securities during 2024. At December 31, 2024, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2023, and all are considered securities available-for-sale. Short term Blair, Incorporated ANC Corporation Totals Long term: Drake Corporation Aaron Industries Cost $ 514,000 467,000 $981,000 $ 514,000 703,000 $1,217,000 Fair Value $188,000 514,000 $902,000 $577,000 677,000 $ 1,254,000 Unrealized Holding Gain (Loss) $ (126,000) 47,000 $ (79,000) $ 63,000 (26,000) 5 37,000) ces Totals Required: 1. Prepare appropriate adjusting entry at December 31, 2024 2. What amount would be reported in the income statement at December 31, 2024, 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, 2024 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field < Prev 3 of 13 Next > Help Complete this question by entering your answers in the tabs below. Saved Required 1 Required 2 Prepare appropriate adjusting entry at December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Record the adjusting entry for December 31, 2024. Credit Required: 1. Prepare appropriate adjusting entry at December 31, 2024. 2. What amount would be reported in the income statement at December 31, 2024, 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, 2024, as a result of the adjusting entry? Note: Leave no cells blank- be certain to enter 0" wherever required. Loreal-American Corporation purchased several marketable securities during 2024. At December 31, 2024, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2023, and all are considered securities available-for-sale. Short term: Blair, Incorporated ANC Corporation Totals Long term: Drake Corporation : Aaron Industries Cost $ 514,000 467,000 5981,000 $ 514,000 703,000 $ 1,217,000 Fair Value $ 388,000 514,000 $ 902,000 $577,000 677,000 $ 1,254,000 Unrealized Holding Gain (Loss) $ (126,000) 47,000 $ (79,000) $63,000 (26,000) $ 37,000 ces Totals Required: 1. Prepare appropriate adjusting entry at December 31, 2024 2. What amount would be reported in the income statement at December 31, 2024, 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, 2024, Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.