Question 1 Partially correct Mark 23.00 out of 32.00 Flag question Assessing Financial Statement Effects of Trading and Available-for-Sale Securities Use the financial statement effects template to record the following four transactions involving investments in marketable securities. 1. Purchased 6,000 common shares of Liu, Inc., at $12 cash per share. 2. Received a cash dividend of $1.20 per common share from Liu. 3. Year-end market price of Liu common stock is $11.25 per share. 4. Sold all 6,000 common shares of Liu for $66,300. Use negative signs with answers, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Net Transaction Cash Asset + Assets = Liabilities + Capital + Capital Revenue Expenses = Income (1) (72,000) 72,000 0 0 0 0 0 0 (2) 6,600 x 0 0 O 6,600 x 6,600 x 0 6,600 x (3) 0 (4,500) 0 0 (4,500) 0 (4,500) * (4,500) (4) 66,900 x (67,500) O 0 (600) * 0 (600) * (600) X