Problem 12-5A The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017 1,250 shares of Willhite Corporation common stock 1,500 shares of Hutcherson Corporation common stock 1,000 shares of Downing Corporation preferred stock Cost $68,750 90,000 29,000 On December 31, 2017, the total cost of the portfolio equaled total fair value. Frederick had the following transactions related to the securities during 2018. Jan. 20 Sold all 1,250 shares of Willhite Corporation common stock at $58 per share. 28 30 8 18 Sold al 1,000 shares of Downing Corp. preferred stock at $28 per share. Purchased 550 shares of $68 par value common stock of Liggett Corporation at $76 per share. Received a cash dividend of $1.07 per share on Hutcherson Corporation common stock. Received cash dividends of $0.42 per share on Downing Corporation preferred stock. Feb. July 30 Received a cash dividend of $1.00 per share on Hutcherson Corporation common stock. Sept. 6 Purchased an additional 900 shares of $10 par value common stock of Liggett Corporation at $80 per share. Dec. Received a cash dividend of $1.38 per share on Liggett Corporation common stock. At December 31, 2018, the fair values of the securities were: Hutcherson Corporation common stock Liggett Corporation common stock $64 per share $70 per share