Corporation generated excess cash and invested in securities as follows:

2018

Jul. 2

Purchased 3,200 shares of Cone, Inc. common stock at $11.00 per share. Brown Package plans to sell the stock within three months, when the company will need the cash for normal operations. Brown Package does not have significant influence over Cone.

Aug. 21

Received a cash dividend of $0.60 per share on the Cone stock investment.

Sep. 16

Sold the Cone stock for $13.70 per share.

Oct. 1

Purchased a Volton bond for $34,000 at face value. Brown Package classifies the investment as trading and short-term.

Dec. 31

Received a $300 interest payment from Volton.

Dec. 31

Adjusted the Volton bond to its market value of $38,000.

Requirement 1. Classify each of the investments made during

.

(Assume the investments represent less than 20% of ownership of outstanding voting stock.)

Classification

Reason

Cone stock

Volton bond