The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. 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. Ornamental's fiscal year ends on December 31, No Investments were held by Omamental on December 31, 2020. Mar 31 Acquired 55 Distribution Transformers Corporation bonds costing $600,000 at face value Sep 1 Acquired $1,200,000 of American Instruments 7% bonds at face value Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct 2 Sold the Distribution Transformers bonds for 5645,000. Nov.1 Purchased $1,500,000 of MED Corporation 3 bands at face value Dec. 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 $1,130,000 $1,680,000 (Hint: Interest must be accrued.) Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, 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 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, Complete this question by entering your answers in the tabs below