On May 19, WJ realized a $48,000 loss on the sale of 10,000 shares of voting common stock in XZY Corporation On May 30, WJ purchased 3,200 shares of XZY nonvoting preferred stock ...

On May 19, WJ realized a $48,000 loss on the sale of 10,000 shares of voting common

Question:

On May 19, WJ realized a $48,000 loss on the sale of 10,000 shares of voting in XZY Corporation. On May 30, WJ purchased 3,200 shares of XZY nonvoting preferred stock.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...