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what is the correct answer for 2017? S&L Financial buys and sells securities that it typically classifies as available-for-sale On December 27, 2016. S&L purchased
what is the correct answer for 2017?
S&L Financial buys and sells securities that it typically classifies as available-for-sale On December 27, 2016. S&L purchased Coca-Cola common shares for $845,000 and sold the shares on January 3. 2017 for S850.500. At December 31, the shares had a fair value of $844,000. When it purchased the Coca-Cola shares. S&L Financial decided to elect the fair value option for this investment. What pretax amounts did S&L include in its 2016 and 2017 earnings as a result of this investmentStep by Step Solution
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