I was struggling with should I use $11.75 as my price per share or the $12 which includes the declared dividend

16. On February 15, 20X1, the Sanders Company purchased 900 shares of Carney Brothers common stock at $12 per share as a short-term investment. The $12 price included a dividend of $0.25 per share. The dividend was declared on February 10 and payable to holders of record as of February 20. Dividend checks were disbursed on February 28 and received by Sanders Company on March 2. On June 12, 300 shares of Carney Brothers common stock were sold for 183/4. The correct journal entry to record the June 12 transaction is A. Cash 3,600 Short-Term Investment-Stocks 3,600 Cash 5,625 Short-Term Investment-Stocks 3,600 Gain on Sale of Securities 2,025 C. Cash 5,625 Short-Term Investment-Stocks 5,625 D. Cash 5,625 Short-Term Investment-Stocks 3,525 Gain on Sale of Securities 2,100 17. Which of the following items would not be affected by an inventory valuation error? A. Total liabilities C. Retained earnings Net income D. Cost of goods sold