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but to have them avaliable for sale in years when circumstances warrant. Omamental's fiscal year ends on December 31 No investments were held by Omamental on December 31,2020. Mar. It Acquired ss olutribution transformers corporation bonds costing $510,000 at face value. Sep. 1 Acquired $1,065,000 of Anerican Instrusents' 10x bonds at face value. Sep. 30 Recelved semiannual interest paynent on the oistribution transforners bonds. oct. 2 sold the oistribution Transforaers bonds for $546,600. Hov. 1 furchased $1,510,000 of 180 Corporation 6$ bonds at face value. Dec. 31 Recorsed any necessary adjusting entry(s) relating to the investnents. The market prices of the investaents are: (Hint interest must be accrued) Required: 1. Piepare 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. incikate any amounts that Oinamental insulation would report in its 2021 income statement. 2021 statement of comprehenisive income, and 1231/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained eamings as a result of these investments. Complete this question by entering your answers in the tabs below. Prepare the approgriate journal entry for each transaction or event during 2021 , as well as any adjusting entries necessary at year end. For any sales, prepare entrins to update the fair-value adjustment, fecord any reclassification adjustment, and record the sale. (If no Journal entry worksheet Journal entry worksheet Record the acquisition of $1,065,000 of American Instruments' 10% bonds at face value. Note: Enter debits before credits. Journal entry worksheet Record the entry for the semiannual interest received on the Distribution Transformers bonds. 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 bonds. Note: Enter debits before credits. Journal entry worksheet

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