During 2011, Heather Ltd. purchased 6,000 shares of Oaktree Corp. for $31 per share ($186,000 total). The

Question:

During 2011, Heather Ltd. purchased 6,000 shares of Oaktree Corp. for $31 per share ($186,000 total). The company designated half of the shares as held for trading and half as available for sale. Headier held these shares until September 2013, when it sold them for $36 per share. During these three years, Oaktree paid dividends of $1 per share on July 31.
On Heather’s fiscal year-end (December 31), shares of Oaktree closed at $34, $29, and $38 in 2011, 2012, and 2013, respectively.
Required:
Determine the amounts to be reported on Heather’s and statement of comprehensive income with respect to the company’s investment in Oaktree Corp. What do you observe about the total amount of income for the three years combined? Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...