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The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys equity securities as noncurrent investments. None of Ornamental's Investments are large enough to exert significant influence on the investee. Omamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired Distribution Transformers Corporation common stock for $560,000. Sep. 1 Acquired $1,140,000 of American Instruments' common stock. Sep. 30 Received a $16,800 dividend on the Distribution Transformers common stock. Oct. 2 Sold the Distribution Transformers common stock for $601, cee. Nov. 1 Purchased $1,568,000 of MGO 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 MGD Corporation common stock $1,074,000 $1,637.000 end Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary atybar. 2. Indicate any amounts that Omamental 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 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 $ 16,800 41,000 57,500 Income statement: Dividend revenue Gain on investments Net income Statement of comprehensive income: Net income Other comprehensive income Comprehensive income Balance sheet: Assets Noncurrent Assets Investments in equity securities Add: Fair value adjustment Shareholders' Equity Gain on investments 11,000 X 68,800 s $ 2,700.000 11,000 $2.711.000 $ 11.000 No Date March 31, 2021 Debit Credit 1 General Journal Investment in equity securities Cash 560,000 560,000 2 September 01, 20 Investment in equity Securities Cash 1,140,000 > 1,140,000 3 September 30, 20 Cash Dividend revenue > 16,800 16,800 4 501,000 > October 02. 2021 Cash Investment in equity securities Gain on investments (unrealized, OCI) 560,000 41,000 O 5 October 02, 2021 Investment in equity securities Cash 3 601,000 601,000 5 > 1,560,000 November 01, 202 investment in equity securities Cash 1,560,000 7 > 11,000 December 31, 204 Fair value adjustment Gain on investments (unrealized, OCI) 11,000 2 3 4 5 > Record the entry to adjust to fair value on the date of sale of the Distribution Transformers bonds. Note: Enter debits before credits. Credit Date General Journal October 02, 2021 Cash Investment in equity securities Gain on investments (unrealized, OCI) Debit 601,000 560,000 41,000 Journal entry worksheet ook