The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2024. 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 in years when circumstances warrant. Omamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2023. March 31 Acquired 6 Distribution Transforiners Corporation bonds costing $530, 690 at face value. Septenber 1 Acquired $1,095,00 of Anerican Instrunents' 8% bonds at face value. Septenber 38 Received seniannual interest payment on the Distribution Transformers bonds. October 2 sold the Distribution Transformers bonds for $568,09. Novenber 1 Purchased $1,530, 600 of MSD Corporation 48 bonds at face value. December 31 Recorded any necessary adjusting entry(s) relating to the investments. The narket prices of the investments are: AmericanInstrumentsbondsN8DCorporationbonds$1,032,000$1,693,009 NBD Corporation bonds $1,603,000 (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. 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 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