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 the 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, 2010. (See attached file for the rest of the question)

The following selected transactions relate to investment activities of Ornamental Insulation Corporation. The company buys securities, not intending to profit from shortterm differences in price and not necessarily to hold the 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, 2010. 2011 Feb. 21 Mar. 18 Sep. Oct. Nov. Dec . 01 20 01 31 Acquired Distribution Transformers Corporation common shares costing $400,000 Received cash dividends of $8,000 on the investment in Distribution Transformers common shares Acquired $900,000 of American Instruments' 10% bonds at face value Sold the Distribution Transformers shares for $425,000 Purchased M&D Corporation common shares costing $1,400,000 Recorded any necessary adjusting entry(ies) and closing entries relating to the investments. The market prices of the investments are: American Instruments bonds M&D Corporation shares 2012 Jan. Mar. 20 01 $ 850,000 $1,460,000 Sold the M&D Corporation shares for $1,485,000 Received semiannual interest of $45,000 on the investment in American Instruments bonds Required 1. Indicate all amounts that Ornamental Insulation would report on its 2011 balance sheet and income statement as a result of these investments. Be sure to show as much work as possible. You may want to prepare/show all the journal entries the company would make for all the 2011 items. 2. Prepare the appropriate journal entry for each transaction or event during 2012