Problem 17-10 (Part Level Submission) Sheridan, Inc. had the following equity investment portfolio at January 1, 2017 Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @ fair value 1,040 shares@ $16 each 900 shares@ $22 each 510 shares @ $9 each $16,640 19,800 4,590 41,030 (7,420) $33,610 During 2017, the following transactions took place 1. On March 1, Rogers Company paid a $2 per share dividend 2. On April 30, Sheridan, Inc. sold 300 shares of Chance Company for $12 per share 3. On May 15, Sheridan, Inc. purchased 100 more shares of Evers Company stock at $17 per share 4. At December 31, 2017, the stocks had the following price per share values: Evers $18, Rogers $21, and Chance $8 During 2018, the following transactions took place 5. On February 1, Sheridan, Inc. sold the remaining Chance shares for $8 per share 6. On March 1, Rogers Company paid a $2 per share dividend 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month 8. At December 31, 2018, the stocks had the following price per share values: Evers $20 and Rogers $23 Problem 17-10 (Part Level Submission) Sheridan, Inc. had the following equity investment portfolio at January 1, 2017 Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @ fair value 1,040 shares@ $16 each 900 shares@ $22 each 510 shares @ $9 each $16,640 19,800 4,590 41,030 (7,420) $33,610 During 2017, the following transactions took place 1. On March 1, Rogers Company paid a $2 per share dividend 2. On April 30, Sheridan, Inc. sold 300 shares of Chance Company for $12 per share 3. On May 15, Sheridan, Inc. purchased 100 more shares of Evers Company stock at $17 per share 4. At December 31, 2017, the stocks had the following price per share values: Evers $18, Rogers $21, and Chance $8 During 2018, the following transactions took place 5. On February 1, Sheridan, Inc. sold the remaining Chance shares for $8 per share 6. On March 1, Rogers Company paid a $2 per share dividend 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month 8. At December 31, 2018, the stocks had the following price per share values: Evers $20 and Rogers $23