Portal Holdings Ltd. had the following short-term investments in marketable securities on December 31, 2013, at fair value and book value:

Canadian Utilities Limited.....................$310,000

TELUS Communications Inc....................425,000

Talisman Energy Ltd.............................160,000

Total short-term investments..................$895,000

Portal Holdings Ltd. had the following investment transactions during 2014: Jan. 5 Purchased 5,000 shares (2 percent) of Salmon Ltd. as a short term investment. The shares were purchased at $50.00 and the commission was $300.

31 Salmon Ltd. reported net income of $1,500,000 and declared a cash dividend of $900,000.

Feb. 15 Received $18,000 from Salmon Ltd. as a cash dividend.

Apr. 1 Purchased $300,000 (face value) of bonds at 100 as a long-term investment. The bonds pay 6 percent interest (3 percent semiannually) on October 1 and April 1 and mature in two years.

Aug. 31 Received a 10-percent stock dividend from Salmon Ltd.

Oct. 1 Received the interest on the bonds.

Nov. 1 Salmon Ltd. declared and distributed a 2-for-1 stock split.

Dec. 15 Sold 3,300 shares of Salmon Ltd. at $48.00 and the commission was $200.

31 Recorded the adjustment for accrued interest on the bonds.