The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys equity securities as noncurrent investments. None of Ornamental's investments are large enough to exert significant influence on the investee. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired Distribution Transformers Corporation common stock for $470,000. Sep. 1 Acquired $1,005,000 of American Instruments' common stock. Sep. 30 Received a $14, 100 dividend on the Distribution Transformers common stock. Oct. 2 Sold the Distribution Transformers common stock for $502,000. Nov. 1 Purchased $1,470,000 of M&D Corporation common stock. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments common stock M&D Corporation common stock $ 948,000 $1,537,000 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 Debit Credit 1 March 31, 2021 General Journal Investment in equity securities Cash 470,000 470,000 2 1,005,000 September 01, 20 Investment in bonds Cash 1,005,000 3 14,100 September 30, 20 Cash Dividend revenue 14,100 4 502,000 October 02, 2021 Cash Investment in equity securities Gain on investments (NI) 470,000 32,000 5 32,000 October 02, 2021 Fair value adjustment Gain on investments (unrealized, NI) 32,000 6 1,470,000 November 01, 202 Investment in bonds Cash 1,470,000 10,000 December 31, 202 Fair value adjustment Gain on investments (unrealized, OCI) 10,000 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. Income statement: $ 0 Net income Statement of comprehensive income: Other comprehensive income Comprehensive income Balance sheet: Assets Current Assets Noncurrent Assets $ 0 Shareholders' Equity