NOTE: I need both the Journal Entries and the Income Statement.

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys equity securities as investments. None of Ornamentals investments are large enough to exert significant influence on the investee. Ornamentals fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017.

Mar.		31		Acquired Distribution Transformers Corporation common stock for $600,000.
Sep.		1		Acquired $1,200,000 of American Instruments' common stock.
Sep.		30		Received a $15,000 dividend on the Distribution Transformers common stock.
Oct.		2		Sold the Distribution Transformers common stock for $645,000.
Nov.		1		Purchased $1,600,000 of M&D Corporation common stock.
Dec.		31		Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are:

American Instruments common stock	$	1,130,000
M&D Corporation common stock	$	1,680,000

Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments.

Journal Entries I have Done So Far:

Journal Entries I need Help On/Done:

Income Statement I need Done/Help with:

Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Credit Date March 31, 2018 General Journal Investment in Distribution Transformers stock Cash Debit 600,000 1 600,000 2 1,200,000 September 01, 201 Investment in American Instruments stock Cash 1,200,000 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (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 Record the entry for dividend received on the Distribution Transformers common stock. Note: Enter debits before credits. General Journal Debit Credit Date September 30, 2018 Record entry Clear entry View general journal Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (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 Record the entry for sale Distribution Transformers common stock for $645,000. Note: Enter debits before credits. General Journal Debit Credit Date October 02, 2018 Record entry Clear entry View general journal Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (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