LO3 Long-Term Investment Transactions P 7. On January 2, 2009, the Healey Company made several long-term invest- ments in the voting stock of various companies. It purchased 10,000 shares of Lima at S4.00 a share, 15,000 shares of Kane at $6.00 a share, and 6,000 shares of Rodriguez at $9.00 a share. Each investment represents less than 20 percent of the voting stock of the company. The remaining securities transactions of Healey during 2009 were as follows: May 5 Purchased with cash 6,000 shares of Drennan stock for $6.00 per share. This investment represents less than 20 percent of the Drennan voting stock. July 16 Sold the 10,000 shares of Zima stock for $3.60 per share. Sept. 30 Purchased with cash 5,000 additional shares of Kane for $6.40 per share. This investment still represents less than 20 percent of the vot- ing stock. Dec. 31 The market values per share of the stock in the Long-Term Investments account were as follows: Kane, $6.50; Rodriguez, $8.00; and Drennan, $4.00