Reporting of and Analyzing Financial Effects of Investments in Equity Securities

Blouin Company had the following transactions and adjustment related to a stock investment that is a trading security.

2018
Nov. 15	Purchased 10,000 shares of Lane, Inc.s common stock at $17 per share plus a brokerage commission of $1,200. Blouin expects to sell the stock in the near future.
Dec. 22	Received a cash dividend of $1 per share of common stock from Lane.
Dec. 31	Made the adjusting entry to reflect year-end fair value of the stock investment in Lane. The year-end fair value of the Lane common stock is $15.50 per share.
2019
Jan. 20	Sold all 10,000 shares of the Lane common stock for $150,000.

c. Record each of the transactions in the financial statement effects template.

Balance Sheet										Income Statement
Transaction	Cash Asset	+	Noncash Assets	=	Liabilities	+	Contrib. Capital	+	Earned Capital		Revenues	-	Expenses	=	Net Income
11/15Purchase shares of Lane, Inc.	Answer	+	Answer	=	Answer	+	Answer	+	Answer		Answer	-	Answer	=	Answer
12/22Dividend income	Answer	+	Answer	=	Answer	+	Answer	+	Answer		Answer	-	Answer	=	Answer
12/31 Change in fair value of investment	Answer	+	Answer	=	Answer	+	Answer	+	Answer		Answer	-	Answer	=	Answer
1/20 Sale of Lane, Inc. shares	Answer	+	Answer	=	Answer	+	Answer	+	Answer		Answer	-	Answer	=	Answer