The following selected transactions relate to Investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, not Intending to profit from short-term differences In price and not necessarlly to hold debt securties to maturity but to have them avallable for sale when clrcumstances warrant Ornamental's fiscal year ends on December 31. No Investments were held by Ornamental on December 31, 2017 Mar. 31 Acquired 7% Distribution Transformers Corporation bonds costing $448,eee at face value Sep. 1 Acquired $968, eee of American Instruments, 9% bonds at face value Sep. 38 Received seniannual interest payment on the Distribution Transforners bonds Oct. 2 Sold the Distribution Transformers bonds for $469,888 No. 1 Purchased $1,448 ,eee of M&D Corporation 5% bonds costing at face value Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are $ 986,808 $1,584,808 American Instrunents bonds M&D Corporation bonds Hint Interest must be accrued.) Required: 1. Prepare the approprlate Journal entry for each transaction or event during 2018, as well as any adjusting entrles necessary at year end. For any sales, prepare entrles to update the falr-value adjustment, record any reclassification adjustment, and record the sale. 2 Indicate any amounts that Ornamental Insulation would report In Its 2018 Income statement, 2018 statement of comprehenslve Income, and 12/31/2018 balance sheet as a result of these Investments. Complete this question by entering your answers in the tabs below. Required 1Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)