The following selected transactions relate to investment activities of Ornamental 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 $440,000. Sep. 1 Acquired $960,000 of American Instruments common stock. Sep. 30 Received a $15,400 dividend on the Distribution Transformers common stock. Oct. 2 Sald the Distribution Transformers common stock for $469,000. . 1 Purchased $1,440,000 of MED Corporation common stock. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments common stock MED Corporation common stock $ 906,000 $1,504,000 ces 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 your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entri (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 3 5 6 7 Record the acquisition of Distribution Transformers Corporation common stock for $440,000. Note: Enter debits before credits. Debit Credit General Journal Date March 31, 2021 Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 202= comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include to comprehensive income, and retained earnings as a result of these investments. Income statement: $ 0 Net income Statement of comprehensive income: Other comprehensive income Comprehensive income Balance sheet: Assets Noncurrent Assets $ 0 Shareholders' Equity Prey 15 of 18 HI Next >