The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2024. The company buys equity securities as noncurrent investments. None of Omamental'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, 2023. Macch 31 Acquired Distribution Transforners Corporation coonon stock for \$569, 000 . Septenber 1 Acquired $1,140, 600 of Anerican Instruhents' comon stock. Septenber 30 Received a $16,800 dividend on the 0istribution. Transformers comon stock. October 2 Sold the Distribution Transformers connon stock for $691,000. November 1 Purchased $1,560,800 of 180 Corporation common stock. December 31 fecorded any necessary adjusting ontry(s) relating to the investinents. The market prices of the investinents are: \begin{tabular}{ll} American Instruments common stock & $1,074,600 \\ MaD Corporation comnon stock & $1,637,000 \end{tabular} Required: 1. Prepare the oppropriate journal entry for each transaction or event duting 2024, os well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornomental Insulation would report in its 2024 income statement, 2024 statement of comprehensive lincome, and 1231/2024 balance sheet as a result of these investments. Include totals for net income, comprehensive income. and tetained earnings as a result of these investurents. Ignote income taxes