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why the answers say its incomplete?? plz give me the full answers American Surety and Fidelity buys and sells securities expecting to earn profits on

why the answers say its incomplete?? plz give me the full answers image text in transcribed
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American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first 11 months of 2024, gains from selling trading securities totaled $8 million, losses from selling trading securities were $11 million, and the company had earned \$S million in interest revenue. The following selected transactions relate to American's investments in trading securities and equity securities during December 2024, and the first week of 2025. The company's fiscal year ends on December 31. No trading securities or equity investments were held by American on December 1, 2024. Assume that the bonds are purchased at face value. December 12, 2024 Purchased FFid Corporation bonds for $12 mililon. not have significant influence over Ferry's operatioss or polleien. Decenber 1S, 2024 sold the YPSG Corporation bonds tor $12.1 miliion. Decembor 22, 2024 purchased U.S. Treasury bills for $56 ailitos and Treasury bosds for $65 ailition. December 26,2024 Sold the U.S. Treasury bills for $57.5 million. Decenber 27,2024 Sold the Treasury bonds for $63 milition. Decomber 28,2024 Recelved cash dividends of $200,000 from the rerry Iateroomanications cotanos atoek shares. December 31,2024 Recorded asy necessary adjusting entry relating to the ronsining investaent. Fhe market price of the Ferry raterconnunications steck was $10 per shafe. January 2, 2025 sold the renainisg Ferry tntercommunicationil compon stock sharea for 510.2 nillion. January 5,2025 Purchased Warehoase Designa Corporation boads tor $34 millios. Required: 1. Prepare the appropriate journal entry for each transaction or event during 2024 including any year-end adjusting entries. 2. Indicate any amounts that American would report in its 2024 balange sheet and income statement as a result of these investments, Ignore income taxes. 3. Prepare the appropriate journal entry for each transaction or event during 2025

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