Problem 3: Investments (20 points) Fair Value Method tal Insulation following selected transactions relate to investment activities of ornament None of Corporation during 201 The company buys securities on the investee on ornamental's investment a large enough to exert significant influence tal fiscal year ends on December 31. No investments were held by December 31, 2017. for $400,000. Mar. 31 Acquired Distribution Transformers Corporation common stock 1 Acquired $900,000 of American Instruments' common stock. Sept. 30 Received a $16,000 dividend on the Distribution Transformers common stock. 2 Sold the Distribution Transformers common stock for $425,000. Nov. 1 Purchased $1,400,000 of M&D Corporation common stock. 31 Recorded any necessary adjusting entry(s) relating to the investments. The fair values of investments are 850,000 American Instruments common stock 1,460,000 M&D Corporation common stock Prepare the appropriate journal entries for each of the above events during 2018