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 120 Grocers Supply Corporation bonds at par for $420,000 28 Received interest of $2,800 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 $4.000 per bond 2022 Dans sold the Grocers Supply Corporation bonde for $450,000 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