The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2024. The company buys equity securities as noncurrent investments. None of Omamental's investments are large enough to exert significant influence on the investee. Omamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31,2023. March 31 Acquired Distribution Transforners Corporation conmon stock for $430,600. Septenber 1 Acquired $945,0e0 of American Instrunents' common stock. Septenber 30 Received a 512,90e dividend on the Oistribution Transtorners conton stock. october 2 Sold the Distribution Transformers common stock for $458,800. Novenber 1 Purchased 51,410,000 of M\$0 Corporation conmon stock. Decenber 31 Recorded any necessary adjusting entry(s) relating to the investients. The narket prices of the investaents are: 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 bolance 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