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 portfolio. 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 Dec. 17 Purchased 185 Grocers' Supply Corporation bonds at par for $462, 500. 2022 28 Received interest of $5, 400 from the Grocers' Supply Corporation bonds, 31 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market price of the bond was $3,000 per bond. Jan. 5 Sold the Grocers' Supply Corporation bonds for $527,250. 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. Answer is not complete. 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 Interest revenue Income Statement