On September 1, Leather Suppliers, Incorporated, purchases 100 shares of Western Wear Clothing for $12.00 per share. On November 1, Leather Suppliers sells the investment for $15.00 per share.

How will the purchase and sale of the investment in Western Wear Clothing affect the financial statements of Leather Suppliers?

On September 1, Leather Suppliers, Incorporated, purchases 100 shares of Western Wear Clothing for $12.00 per share. Note: Amounts to be deducted should be indicated by a minus sign. On November 1 , Leather Suppliers sells the investment for $15.00 per share. Note: Amounts to be deducted should be indicated by a minus sign