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The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end Balance Sheets: Investment Securities Machinery Land Year 2
The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end Balance Sheets: Investment Securities Machinery Land Year 2 $110,000 486,000 160,000 Year 1 $116,500 437,000 100,000 Other information drawn from the accounting records: 1. Delsey incurred a $6,000 loss on the sale of Investment Securities during Year 2. 2. Old machinery with a cost of $36,000 minus Accumulated Depreciation of $28,000 was sold. The Income Statement showed a gain on the sale of machinery of $4,500. 3. Delsey did not sell land during the year. What was the historical cost of the Investment Securities Delsey sold during the year? Do not enter dollar signs or commas in your answers.
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