1. Bain Town Raptors was incorporated on Jan. 1, 2021 to produce and sell carnival designs and costumes. The following transactions relate to certain securities acquired by Bain Town Raptors, which has a fiscal year ending on December 31: 2021 Feb. 10. Purchased 8,000 shares of the 150,000 outstanding shares of Island Luck Corporation at $36 per share to be held till maturity. The brokerage commission amounted to $864. July. 15. Received a cash dividend of $2.25 per share from Island Luck Corporation Dec. 31. An adjusting entry was made to recognize that the market value of Island Luck was $33 per share.