Question: On December 2 8 , Summit purchased Microsoft common shares for $ 4 6 6 , 0 0 0 . On December 3 1 ,

On December 28, Summit purchased Microsoft common shares for $466,000. On December 31, the shares had a fair value of
$463,000.
How will the initial investment by Summit and the decrease in fair value affect the financial statements?
Complete this question by entering your answers in the tabs below.
On December 28, Summit purchased Microsoft common shares for $466,000.
Note: Amounts to be deducted should be indicated by a minus sign.
On December 28, Summit purchased Microsoft common shares for $466,000. On

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