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S & L Financial buys and sells securities expecting to earn profits on short ? term differences in price. On December 27, 2013, S &L
S & L Financial buys and sells securities expecting to earn profits on short ? term differences in price. On December 27, 2013, S &L purchased Coca ?Cola common shares for $ 845,000 and sold the shares on January 3, 2014, for $ 850,500. At December 31, the shares had a fair value of $844,000. What pretax amount did S & L include in its 2013 and 2014 earning as a result of this investment
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