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. Cost Fair Value Unrealized Holding Gain (Loss) Short term: Blair, Incorporated $ 504,000 $ 393,000 $ (111,000) ANC Corporation 462,000 504,000 42,000 Totals $ 966,000 $ 897,000 $ (69,000) Long term: Drake Corporation $ 504,000 $ 572,000 $ 68,000 Aaron Industries 708,000 672,000 (36,000) Totals $ 1,212,000 $ 1,244,000 $ 32,000 Required: Prepare appropriate adjusting entry at December 31, 2024. What amount would be reported in the income statement at December 31, 2024, as a result of the adjusting entry?

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.

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.