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. March 31 Acquired 8% Distribution Transformers Corporation bonds costing $600,000 at face value. September 1 Acquired $1,500,000 of American Instruments 10% bonds at face value. September 30 Received semiannual interest payment on the Distribution Transformers bonds. October 2 Sold the Distribution Transformers bonds for $670,000. November 1 Purchased $2,400,eee of M&D Corporation 6% bonds at face value. December 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds M&D Corporation bonds (Hint: Interest must be accrued.) $ 1,460,000 $ 2,480,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 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. N N S 1 Prepare the appropriate journal entry for each transaction or event during 2024, as well as any adjusting entries necessary at year end. Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. View transaction list View journal entry worksheet No. Date 1 March 31, 2024 2 6 3 5 September 01, 2024 September 2024 30, Investment in bonds Cash November 01, 2024 Investment in bonds o Cash 4 October 02, 2024 No journal entry required December 31, Cash Interest revenue October 02, 2024 Cash General Journal Investment in bonds: Gain on investments (unrealized, NI) Investment in bonds Cash Intrant cal Debit 600,000 1,500,000 24,000 670,000 2,400,000 Credit W Hunt 600,000 1,500,000 24,000 600,000 70,000 2.400,000 Check Required 11 Required 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. Income statement: Interest revenue Gain on investments Net income Statement of comprehensive income: Other comprehensive income Comprehensive income Balance sheet: Current Assets Investments Assets Shareholders' Equity $ $ $ 0 0