During 2016, Dana Company decided to begin investing its idlecash in marketable securities. The information contained belowrelates to Dana’s 2016 marketable security transactions:
| Feb. 3 | Purchased 3,000 shares of Blair Company common stock for $12per share. |
| Apr. 1 | Purchased $20,000 face value of Solomon Inc. 12% bonds at parplus accrued interest; interest on the bonds is payable each June30 and December 31. |
| Jun. 30 | Received the semiannual interest on the Solomon bonds and a$0.25 per share dividend on the Blair common stock. |
| Sept. 1 | Purchased 4,000 shares of Woodman Corporation common stock for$22 per share. |
| Nov. 1 | Purchased $30,000 face value of Edwards Company 11% bonds atpar plus accrued interest; interest on the bonds is payable eachJune 1 and December 1. |
| Dec. 1 | Received the interest on the Edwards bonds and sold the bondsfor $30,300. |
| Dec. 30 | Received a $0.25 dividend per share on the Blair common stockand sold all the shares for $35,300. |
| Dec. 31 | Received the interest on the Solomon bonds. The followinginformation is available concerning the year-end marketprices: |
Security | Quoted Market |
| Solomon 12% bonds | $20,200 |
| Woodman common (per share) | 23 |
Required:
| 1. | Record Dana’s investment transactions for 2016. |
| 2. | Show the items of income or loss on temporary investments Danareports on its 2016 income statement. |
| 3. | Show the carrying value of Dana’s investment account on itsDecember 31, 2016, balance sheet. |
