=+EX 15-5 Entries for investment in stock, receipt of dividends, and sale of shares obj. 3

✔ c.Gain on sale of investments, $6,875 The following equity investment-related transactions were completed by Lance Company in 2010:

Jan. 12. Purchased 1,800 shares of Baxter Company for a price of $56.50 per share plus a brokerage commission of $90.

Apr. 10. Received a quarterly dividend of $0.25 per share on the Baxter Company investment.

June 3. Sold 1,200 shares for a price of $46 per share less a brokerage commission of $65.