Question: answer completely for a thumbs up!! please!! The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021 . The company buys








The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021 . The company buys equity securities as noncurrent investments. None of Omamental's investments are large enough to exert significant influence on the imvestee Ornamental's fiscal year ends on December 31 No investments were held by Omamental on December 31,2020 . Mor. 31 Acquired Distribution Transforeers Corporation conmon stock for $490,000. Sep. 1 Acquired $1,035,000 of American instruments" comen atock. Sep. 3 e Received a $17,150 dividend on the Distribution Transformers comen stock. Oct. 2 sold the Distribution Transformers common stock for $524,060. Nov. 1 Purchased $1,500,000 of. MSD corporation conmon stock. Dec. 31 Reconded any necessary adjusting entry(s) relating to the Investments. The inarket prices of the Investrents are: Required: 1. Prepare the appropriate journal entry for each tronsaction or event during 2021, as well as any adjusting entries necessary at yearend 2. Indicate any amounts that Ornamental insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 baiance sheet as a result of these investments. Include totais for net income, comprehensive income, and retained eamings as a result of these investments. Journal entry worksheet Record the acquisition of Distribution Transformers Corporation common stock for $490,000. Note: Enter debits before credits. Journal entry worksheet 7 Record the acquisition of $1,035,000 of American Instruments' common stock. Note: Enter debits before credits. Journal entry worksheet Record the entry for dividend received on the Distribution Transformers common stock. Note: Enter debits before credits. Journal entry worksheet Record the entry to adjust to fair value on the date of sale of the Distribution Transformers common stock. Note: Enter debits before credits. Journal entry worksheet Record the entry for sale Distribution Transformers common stock for $524,000. Note: Enter debits before credits. Journal entry worksheet Record the acquisition of $1,500,000 of M\&D Corporation common stock. Note: Enter debits before credits. Journal entry worksheet Record the entry to adjust fair value of the investments at year-end. Note: Enter debits before credits. 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
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