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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 Omamental's investments are large enough to exert significant influence on the investee. Ornamental's fiscal year ends on December 31. No investments were held by Omamental on December 31, 2020, Mar. 31 Acquired Distribution Transformers Corporation common stock for $560,eee. Sep. 1 Acquired $1,140,eee of American Instruments common stock Sep. 3e Received a $16,800 dividend on the Distribution Transformers common stock. Oct. 2 Sold the Distribution Transformers common stock for $601,000 Nov. 1 Purchased 51,560,000 of MSD Corporation common stock Dec. 31 Recorded any necessary adjusting entry(t) relating to the investments. The market prices of the investments are: American Instruments common stock MSD Corporation common stock $1,074, cee $1,697,000 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 retained earnings as a result of these investments Journal entry worksheet Record the acquisition of Distribution Transformers Corporation common stock for $560,000. Note: Enter debits before credits. General Journal Debit Credit Date March 31, 2021 Record entry Clear entry View general journal Prev 3 of 5 HA mo Next > FEIRA Journal entry worksheet Record the acquisition of $1,140,000 of American Instruments' common stock. Note: Enter debits before credits. General Journal Debit Credit Date September 01. 2021 Record entry Clear entry View general journal Prey Journal entry worksheet 1 2 3 4 5 6 7 > Record the entry for dividend received on the Distribution Transformers common stock. Note: Eniter debits before credits. General Journal Debit Credit Date September 30, 2021 Record entry Clear entry View general journal Preu Move Journal entry worksheet Record the entry for sale Distribution Transformers common stock for $601,000. Note: Enter debits before credits. General Journal Debit Date October 02, 2021 Credit Record entry Clear entry View general journal Journal entry worksheet Record the acquisition of $1,560,000 of M&D Corporation common stock. Note: Enter debits before credits. General Journal Debit Credit Date November 01, 2021 Record entry Clear entry View general journal Prey 3 of 5 E Next Journal entry worksheet Record the entry to adjust fair value of the investments at year-end. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal 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: Net income Statement of comprehensive income: Other comprehensive income Comprehensive income Balance sheet: Assets Current Assets Noncurrent Assets Income statement: Net income Statement of comprehensive income: Other comprehensive income Comprehensive income Balance sheet: Assets Current Assets 1 Noncurrent Assets Shareholders' Equity