Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2013 for $58 per share...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2013 for $58 per share and classified the investment as securities available for sale. Diamond's market value was $80 per share on December 31, 2014 and $96 on December 31, 2015. During 2016, Hawk sold all of its Diamond stock at $143 per share. In its 2016 income statement, Hawk would report:
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
