Problem D$-1$A $($Algo$)$ Account for investments using the fair value method $($LO D$-2)$

Barp. Hark, and Babe form a company named Long Ball lnvestmerts$,$ hoping to find that eluyleve home run itock, A new clophing company by the fame of Mojor Leapue Appasel has caught their eye. Mojor League Appavel has teop clavies of stock authorized st invotments tre lage enouph to exed a slignificant intupsce.

$2$anuary $2$ Rechase $2,$ eea shares of Majer Leagoe camon stock for ip$7$ per share$-$

February $14$ Rerchase $4$ shares of Najer Leapove preflerred stock for $512\mathrm{.}78$ per sharn. shart.

Beoulred:

hecord each of these invisizent transactions. $($Hinc Preferred stock tranaactions ase necorded like common thock transactions, by preferred atock has no voing rights and thereflove ownership prowides no influence.$]$

Calculabe the balance in the invershenents account of of December $34.$

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