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Slocomb Corporation holds a portfolio of equity securities. On July 15, Slocomb paid $82,000 for an investment in Oron Company stock, representing 5% of Oron
Slocomb Corporation holds a portfolio of equity securities. On July 15, Slocomb paid $82,000 for an investment in Oron Company stock, representing 5% of Oron Company stock. Slocomb plans on holding the securities a few months. On October 31, the market value of Slocomb's Oron investment is $91,000. For this situation, show everything Slocomb would report on its October 31 balance sheet and on its income statement for the year ended October 31. BALANCE SHEET (partial) INCOME STATEMENT (partial)
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