Question
Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2013 for $58 per share and classified the investment as securities available for sale. Diamond's
| Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2013 for $58 per share and classified the investment as securities available for sale. Diamond's market value was $80 per share on December 31, 2014 and $96 on December 31, 2015. During 2016, Hawk sold all of its Diamond stock at $143 per share. In its 2016 income statement, Hawk would report: |
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
16th Edition
027377817X, 978-0273778172
