Southern Corporation reports short-term investments on its balance sheet. Suppose a division of Southern completed the following short-term investment transactions during 2012:

Requirement
1. Prepare T-accounts for Cash, Short-Term Investment, Dividend Revenue, Unrealized Gain (Loss) on Investment, and Gain on Sale of Investment. Show the effects of Southern€™s investment transactions. Start with a cash balance of $96,000; all the other accounts start atzero.

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2012 Dec 12 21 31 Purchased 700 shares of Trad, Inc., stock for $24,500. Southern plans to sell the stock at a profit in the near future. Received a cash dividend of $0.98 per share on the Trad, Inc., stock. Adjusted the investment in Trad, Inc., stock. Current market value is $26,600. Southern still plans to sell the stock in early 2013. 2013 Jan 16 Sold the Trad, Inc., stock for $27,200.