Vaughn, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 1,000 shares @ $15 each $15,000 Rogers Company 910 shares @ $21 each 19,110 Chance Company 480 shares @ $9 each 4,320 Equity investments @cost 38,430 Fair value adjustment (7,350) Equity investments@fair value $31,080 During 2025, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Vaughn, Inc. sold 300 shares of Chance Company for $12 per share. 3. On May 15, Vaughn, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31, 2025, the stocks had the following price per share values: Evers $17, Rogers $20, and Chance $8. During 2026, the following transactions took place. 5. On February 1, Vaughn, Inc. sold the remaining Chance shares for $8 per share. 9 6. On March 1, Rogers Company paid a $2 per share dividend. 7. 8. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. At December 31, 2026, the stocks had the following price per share values: Evers $19 and Rogers $22.