The following selected transactions relate to investment activities of Ornamental Insulation Corporation. The company buys securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale when circumstances warrant. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31 2016 Feb. 21 Acquired Distribution Transformers Corporation common shares costing $580,000 Mar. 18 Received cash dividends of $9,000 on the investment in Distribution Transformers common 2 shares Sep. 1 Acquired $1,440,000 of American Instruments' 10% bonds at face value Oct. 20 Sold the Distribution Transformers shares for $640,000 Nov. 1 Purchased M&D Corporation common shares costing $2,300,000 Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds $1,398,000 M&D Corporation shares $2,378,000 3 (Hint: Interest must be accrued for the American Instruments' bonds.) 2017 Jan. 20 Sold the M&D Corporation shares for $2,403,000 Mar. 1Received semiannual interest of $72,000 on the investment in American Instruments bonds. Aug. 12 Acquired Vast Communication common shares costing $830,000 Sept. 1 Received semiannual interest of $72,000 on the investment in American Instruments bonds. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are Vast Communication shares S 850,000 American Instruments bonds S1,378,000 3