Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price, and holds these Investments in its trading portfollo. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2021 and the first week of 2022. 2021 Dee. 17 Purchased 160 Grocera Supply Corporation bonds at par for $560,000. 28 Received interest of $4,400 from the Grocera Supply Corporation bonda. 31 Recorded any necessary adjusting entry relating to the Grocera Supply Corporation bonds. The market price of the bond was $4,000 per bond. 2022 Jan. S told the Grocera Supply Corporation bonde for $624,000. Required: 1. Prepare the appropriate Journal entry or entries for each transaction. 2. Indicate any amounts that Rantzow-Lear Company would report in its 2021 balance sheet and Income statement as a result of this Investment Complete this question by entering your answers in the tabs below. Required 1 Required 2 Indicate any amounts that Rantzow-Lear Company would report in its 2021 balance sheet and income statement as a result of this investment. Balance Sheet December 31, 2021 Current Assets Cash Income Statement: