The GROD company in September 2001 bought 200 ELTA shares as a long-term investment. The cost...

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The GROD company in September 2001 bought 200 ELTA shares as a long-term investment. The cost of purchase of all shares was 5 000, and par value of shares was 4 800. By the end of the year 2001 the market value of ELTA shares was 20 each. From the beginning of the year 2002 the market value of ELTA shares was rising and at the year end it was 26 each. Required: Prepare a financial statement of GROD company for each year separately. Assume that in the year 2001 the company had only equity. The GROD company in September 2001 bought 200 ELTA shares as a long-term investment. The cost of purchase of all shares was 5 000, and par value of shares was 4 800. By the end of the year 2001 the market value of ELTA shares was 20 each. From the beginning of the year 2002 the market value of ELTA shares was rising and at the year end it was 26 each. Required: Prepare a financial statement of GROD company for each year separately. Assume that in the year 2001 the company had only equity.