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The following selected transactions relate to investment activities of Ornamental insulation Corporation during 2024. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio Ornamental's fiscal year ends on December 31. No investments were held by Omamental on December 31, 2023. March 31 Acqulred 8% Distribution Transformers Corporation bonds costing 5510,669 at face- value. September 1 Acquired $1,230,800 of Anerican Instruments" 1ex bonds at face value. Septenber 30 feceived semiannual interest paynent on the oistribution Transformers bonds. October 2 sold the 0istribution Transformers bonds for $590,009. November 1 Purchased 51,950,090 of NsD Corporation 68 bonds at face value. December-31. Recorded any necessary adjusting entry(s) relating to the thvestnents. The market prices of the Investinents are (Hint Interest must be accrued) 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 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained eamings as a result of these investments. Ignore income taxes

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