The following selected transactions relate to investment activities of Ornamental Insulation Corporation. The company buys securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2015.
2016 Feb.21 Acquired Distribution Transformers Corporation common shares costing $540,000. Mar.18 Received cash dividends of $7,000 on the investment in Distribution Transformers common shares.
Sep.1 Acquired $1,320,000 of American Instruments’ 10% bonds at face value. Oct.20 Sold the Distribution Transformers shares for $580,000. Nov.1 Purchased M&D Corporation common shares costing $2,100,000. Dec.31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are:

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