On November 23, the company purchased 3,000 shares of Daenerys Inc. at $19 per share for the purpose of trading. The shares are less than 4% of the total shares of Daenerys Inc. and are a non-strategic investment. By December 31, the price per share had gone up to $23 per share.

How record this transaction

Holister Electric Inc. Balance Sheet As at December 31, 2019 Assets Liabilities Cash $27,000 Accounts Payable $13,200 Accounts Receivable 14,200 Unearned Revenue 6,500 Prepaid Insurance 4,200 Bank Loan 25,000 Inventory 65,000 Total Liabilities 44,700 Property, Plant & Equipment 180,000 Shareholders' Equity Accumulated Depreciation -25,000 Common Shares - 90,000 issued 90,000 Retained Earnings 130,700 Total Shareholder's Equity 220,700 Total Assets $265,400 Liabilities & Owner's Equity $265,400