The following selected transactions relate to investment activities of Ornamental Insulation Corporation during $2024.$ 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 $31,2023.$

$($Hint: Interest must be accrued.$)$

Required:

$1.$ Prepare the appropriate journal entry for each transaction or event during $2024,$ as well as any adjusting entries necessary at

year end.

$2.$ Indicate any amounts that Ornamental Insulation would report in its $2024$ income statement, $2024$ statement of comprehensive

income, and $12/31/2024$ balance sheet as a result of these investments. Include totals for net income, comprehensive income,

and retained earnings as a result of these investments. Ignore income taxes.