The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021 The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020 Mar. 31 Acquired 8X Distribution Transformers Corporation bonds costing $510,000 at face value. Sep. 1 Acquired $1,230,000 of American Instruments 1ex bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $590,000. Nov. 1 Purchased $1,950,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds MD Corporation bonds $1,181,880 $2,021,000 (Hint: Interest must be accrued.) 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 12/31/2021 balance sheet as a result of these investments. Include totals for net income comprehensive income and retained earnings as a result of these investments Income statement: Interest revenue Gain on investments Net income Statement of comprehensive income: $ 0 Comprehensive income Balance sheet: 0 Assets Current Assets Investments 0 Shareholders' Equity No Date General Journal 1 March 31, 2021 Debit Credit Investment in bonds Cash 510,000 510,000 2 September 01, 20 Investment in bonds Cash 3 September 30, 20 Cash Interest revenue e 4 October 02, 2021 Fair value adjustment Gain on investments (unrealized NI 5 October 02. 2021 Cash Investment in bonds SIS 6 November 01, 202 Investment in bonds S 5 October 02, 2021 Cash Investment in bonds 6 November 01, 202 Investment in bonds Cash 7 December 31, 202 Interest receivable Interest revenue 8 December 31, 202 Interest receivable Interest revenue 9 December 31, 202 Fair value adjustment Gain on investments (unrealized, NI)