The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt 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, 2017. Mar. 31 Acquired 6% Distribution Transformers Corporation bonds costing $530,000 at face value Sep. 1 Acquired $1,095,000 of American Instruments, 8% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds Oct. 2 Sold the Distribution Transformers bonds for $568,000 Nov . 1 Purchased $1,530,000 of M&D Corporation 4% bonds costing at face value Dec. 31 Recorded any necessary adjusting entry (s) relating to the investments. The market prices of the investments are: $1,032,000 $1,603,000 American Instruments bonds M&D Corporation bonds (Hint: Interest must be accrued.) Required 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale 2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. Answer is not complete. Complete this question by entering your answers in the tabs below. October 02 2018 Reclassification adjustment-oci 38,000 Fair value adjustment 38,000 October 02 2018 568.0000 Cash 530,000 38,000 Investment in Distribution Transformers bonds Gain on sale of investments November 01 2018 Investment in M&D Corporation bonds 1,530,000 Cash 1,530,000 December 31 2018 61,200 Interest receivable Interest revenue 61,200 December 31 2018 Interest receivable 87,600 Interest revenue 67,600 December 31 2018 10,000 10 Fair value adjustment Unrealized holding gain-oci 10,000