The following selected transactions relate to investment activities of Omamental 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 Ornamental'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 5560,000, Sep. 1 Acquired $1,140,000 of American Instruments common stock Sep 30 Received a 516,500 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 MD Corporation common stock. Dec. 31 Recorded any necessary adjusting entry(5) relating to the investments. The market prices of the investments are American Instruments common stock Corporation common stock $1,074,000 $1,637,000 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 12/312021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments Complete this question by entering tabel View transaction list View journal entry worksheet ***** No Debit Credit 1 Date General Journal March 31, 2021 Investment in equity securities Cash 560,000 560.000 2 September 01. 2021 Investment in equity securities 1,140,000 Cash 1,140,000 3 September 30, 2021 Cash 16,800 Dividend revenue 16,800 4 41,000 October 02, 2021 Fair value adjustment Gain on investments (unrealized, NI) 41.000 5 601,000 October 02, 2021 Cash Fair value adjustment Investment in equity securities 41,000 560.000 - 6 November 01, 2021 1,560,000 Investment in equity securities Cash 1.560.000 7 December 31 2021 11,000 Fair value adjustment Gain on investments (unrealized, NI) 11.000 Required Required 2 > Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2021 income stateme comprehensive income, and 12/31/2021 balance sheet as a result of these investments. I comprehensive income, and retained earnings as a result of these investments. $ 0 Income statement: Dividend revenue Gain on investments Net income Statement of comprehensive income: Net income Other comprehensive income Comprehensive income Balance sheet: Assets Current Assets Cash Noncurrent Assets Investments in equity securities Add. Fair value adjustment Shareholders' Equity Retained earnings $ 0