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 Omamental on December 31, 2023. Karch 31 Acquired B4 Distribution Transformers Corporation bonds cesting \$56e, 000 at face value. Septenber 1 Acquired $1,380, eee of Anerican Instruments' 104 bends at face vatue. Septenber 3 Received semiannual interest payment on the Distribution Transforners bonds. October 2 Sold the oistribution Transforaers bonds for $610, eee. Novenber 1 Purchased $2,200, eDe of MSO Corporation 64 bonds at face value. December 31 Recorded any necessary adjusting entry(s) relating to the investnents. The market prices of the investinents are Mnerican Instrunents bonds MSO Corporation bonds $1,336,6e0 5 2,273,6e0 (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. Complete this question by entering your answers in the tabs below. 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/ovent, select "No journal entry required" in the first account field: Prepare the appropriate journal entry for each transaction or event during 2024, as weil as any adjusting entries necessary at year end. Note: If no entry is required for a tronsactionvevent, select "No fournal entry required" in the first account fleid. Journal entry worksheet 3456789 Record the acquisition of 8% Distribution Transformers Corporation bonds costing $560,000 at face value. Note: Enter debits before credits. 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 eamings as a result of these investments. Ignore income taxes