Gil Company acquired 3,000 shares of X Company on 1/Nav./2020 for the price of $14 per...

 

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Gil Company acquired 3,000 shares of X Company on 1/Nav./2020 for the price of $14 per share. On 31/Dec./2020, X Company reported Earnings Per Share (EPS) of $1.5, the share price increased to $18, and dividends in the amount of $.5 per share were paid a week earlier. Gił sold the trading investment on 20/Jan./2021 for $21 per share. What was the overall impact of the investment on Gil's income statement for the year ended 31/Dec./2020? a. $12,000 b. $22,500 C. $13,500 d. $6,000 e. $10,500 Gil Company acquired 3,000 shares of X Company on 1/Nav./2020 for the price of $14 per share. On 31/Dec./2020, X Company reported Earnings Per Share (EPS) of $1.5, the share price increased to $18, and dividends in the amount of $.5 per share were paid a week earlier. Gił sold the trading investment on 20/Jan./2021 for $21 per share. What was the overall impact of the investment on Gil's income statement for the year ended 31/Dec./2020? a. $12,000 b. $22,500 C. $13,500 d. $6,000 e. $10,500

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