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. Ornamentals fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.

Mar.		31		Acquired 8% Distribution Transformers Corporation bonds costing $590,000 at face value.
Sep.		1		Acquired $1,470,000 of American Instruments' 10% bonds at face value.
Sep.		30		Received semiannual interest payment on the Distribution Transformers bonds.
Oct.		2		Sold the Distribution Transformers bonds for $655,000.
Nov.		1		Purchased $2,350,000 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	$	1,429,000
M&D Corporation bonds	$	2,429,000

(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.

No	Date	General Journal	Debit	Credit
1	March 31, 2021	Investment in bonds	590,000
		Cash		590,000
2	September 01, 2021	Investment in bonds	1,470,000
		Cash		1,470,000
3	September 30, 2021	Cash	23,600
		Interest revenue		23,600
4	October 02, 2021	Fair value adjustment	65,000
		Gain on investments (unrealized, NI)		65,000
5	October 02, 2021	Cash	655,000
		Investment in bonds		590,000
		Fair value adjustment		65,000
6	November 01, 2021	Investment in bonds	2,350,000
		Cash		2,350,000
7	December 31, 2021	Interest receivable	49,000
		Interest revenue		49,000
8	December 31, 2021	Interest receivable	23,500
		Interest revenue		23,500
9	December 31, 2021	Fair value adjustment	38,000
		Gain on investments (unrealized, NI)		38,000

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. (Amounts to be deducted should be indicated with a minus sign.)

PLEASE ANSWER BELOW HAVING A HARD TIME

Income statement:
Interest revenue		$96,100
Gain on investments		103,000
Net income		$199,100
Statement of comprehensive income:
Net income
Gain on investments		23,600
Comprehensive income		$23,600
Balance sheet:
Assets
Current Assets
Interest receivable		$72,500
Investments
Investment in bonds	$3,820,000
Add: Fair value adjustment	38,000	$3,858,000
Shareholders Equity
Retained earnings