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Loreal-American Corporation purchased several marketable securities during 2021

Accounting

Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. 
Cost Fair Value Unrealized Holding Gain (Loss) Short term: Blair, Inc. $ 516,000 $ 387,000 $(129,000) ANC Corporation 468,000 516,000 48,000 Totals $ 984,000 $ 903,000 $ (81,000) Long term: Drake Corporation $ 516,000 $ 578,000 $ 62,000 Aaron Industries 702,000 678,000 (24,000) Totals $1,218,000 $1,256,000 $ 38,000 
Required: 1. Prepare appropriate adjusting entries at December 31, 2021. 2. What amount would be reported in the income statement at December 31, 2021, as a result of the adjusting entry? 
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Required 1 Required 2 
Prepare appropriate adjusting entry at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 

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