The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company equity securities as 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, 2017 quired Distribution wrican Instruments de Transformers 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 Sold the Distribution Transformers common stock for $469,eee. Nov. 1 Purchased $1,440,000 of MD 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 comon stock $ 906,000 $1,584,000 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end 2. Indicate any amounts that Ornainental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. Complete this question by entering your answers in the tabs below. work 0 Help Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (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 2 3 4 5 6 7 Record the acquisition of Distribution Transformers Corporation common stock for $440,000 Note: Enter debits before credits. Date General Journal Debit Credit March 31, 2018 Tework Saved Journal entry worksheet tk Saved Journal entry worksheet ework 0 Saved Journal entry worksheet 1 2 3 4 5 6 7 Record the entry to adjust to fair value on the date of sale of the Distribution Transformers bonds. Note: Enter debits before credits. General Journal Debit Credit Date October 02, 2018 Record entry Clear entry View general journal Saved Journal entry worksheet