Grouper Corporation made the following cash purchases of securities during 2020, which is the first year in which Grouper invested in securities. 1. On January 15, purchased 9,200 shares of Sanchez Company's common stock at $33.50 per share plus commission $1,824. 2. On April 1. purchased 4,600 shares of Vicario Co's common stock at $52 per share plus commission $3,098. 3. On September 10, purchased 6,440 shares of WTA Co's preferred stock at $26.50 per share plus commission $4,516. On May 20, 2020, Grouper sold 3,588 shares of Sanchez Company's common stock at a market price of $35 per share less brokerage commissions, taxes, and fees of $3,542. The year-end fair values per share were Sanchez $30, Vicario $55, and WTA $28. In addition, the chief accountant of Grouper told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases.