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Investments in Common Stock Both Seco Inc. and Hillsborough Corp. have 100,000 shares of no par common stock outstanding. World acquired 10,000 shares of Seco

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Investments in Common Stock Both Seco Inc. and Hillsborough Corp. have 100,000 shares of no par common stock outstanding. World acquired 10,000 shares of Seco stock for $6 per share and 30,000 shares of Hillsborough stock for $12 per share in 2014. Both securities are being held as long-term investments. Changes in retained earnings for Seco and Hillsborough for 2014 and 2015 are as follows: Instructions: Give the entries required on the books of World Inc. for 2014 and 2015 to account for its investments subsequent to the initial acquisition of the stock

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