P 13-3 LO5 LO6 a. Investment in Securities--Recording and Analysis The following data pertain to the securities of Linford Company during 2018, the company's first year of operations: Purchased 400 shares of Corporation A stock at $40 per share plus a commission of $200. The security was only for trading purpose. b Purchased $6,000 of Corporation B bonds. The purpose of the bond investment was trading. Received a cash dividend of $0.50 per share on the Corporation A stock. d. Sold 100 shares of Corporation A stock for $46 per share. Received interest of $240 on the Corporation B bonds. Purchased 50 shares of Corporation C stock for $3,500. Linford made an irrevocable election to measure the equity investment as fair value through other comprehensive income. 8 Received interest of $240 on the Corporation B bonds. h. Sold 150 shares of Corporation A stock for $28 per share. Received a cash dividend of $1.40 per share on the Corporation C stock. Interest receivable at year-end on the Corporation B bonds amounts to $60. Required: Classify the securities invested in Corporations A, B, and C, and prepare journal entries to record the preceding transactions. Post the entries to T-accounts, and determine the amount of each of the following for the year: Dividend revenue Interest revenue Net gain or loss from selling securities i. i. 1. 2. 3