In January 2019, the management of Crane Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Purchased 1,250 shares of LAF common stock for $50,000. Mar. 1 Purchased 480 shares of NCL common stock for $16,800. Apr. 1 Purchased 75 $1,000, 8% TRC bonds for $75,000. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.90 per share on the LAF common stock. Aug. 1 Sold 186 shares of LAF common stock at $39 per share. Sept. 1 Received $2 per share cash dividend on the NCL common stock. Oct. 1 Received the semiannual interest on the TRC bonds. Oct. 1 Sold the TRC bonds for $76,562. At December 31, the fair values of the LAF and NCL common stocks were $36 and $28 per share, respectively. These stock investments by Crane Company provide less than a 20% ownership interest.