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On December 31. 2021, the end of its first year of operations. Pharoah Associates owned the following securitles that are held as lonterminvestrients. investees. in

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On December 31. 2021, the end of its first year of operations. Pharoah Associates owned the following securitles that are held as lonterminvestrients. investees. in 2022, the folowing transtactions occurred. July 1 Received 5200 persharesemiannual cahidividendon 9 co gomenonstoce. Aug. 1 Received Sosopershare cathdividend on Coocommon evock Seot. 1 Sold 1.020shares of D Co.commonstockforicath it 59 perfine Nov. 1 Received 51 pershare cashdividend on e Co.common witock Dec. 15 Received 50.50 pershare cash dividend on Co. common stock 31 Recelved \$2.30 per share semiannual cashdivdend on p co coennion stock At December 31, the fair values pershare of the commonstocks were c co 5.51. pro. 5 r. 70 , and E Go. 524, these inwestments should be classified as lonsterm. Post to the account Stock investments

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