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Need assistance with requirement 2 Check my 3 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as

Need assistance with requirement 2

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Check my 3 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year- end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and points retained earnings as a result of these investments. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. Income statement: Dividend revenue $ 16,200 Gain on investments 50,000 Net income $ 66,200 Statement of comprehensive income: Net income $66,200 Other comprehensive income Comprehensive income Balance sheet: Assets Current Assets Cash Noncurrent Assets Investments in equity securities $ 2,670,000 Add: Fair value adjustment 11,000 @ $ 2,681,000 Shareholders' Equity Retained earnings 66,200

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