During 2011, Farrah Ltd. purchased 4,000 shares of Rose of Sharon Corp. for $41 per share ($164,000 total). The company designated half of the shares as held for trading and half as available for sale. Farrah held these shares until September 2013, when it sold them for $52 per share. During these three years, Rose of Sharon paid dividends of $1 per share on July 31 each year. On Farrah's fiscal year-end (December 31), shares of Rose of Sharon closed at $51, $36, and $56 in 2011, 2012, and 2013, respectively.
Required:
Determine the amounts to be reported on Farrah's balance sheet and statement of comprehensive income with respect to the company's investment in Rose of Sharon Corp for 2011, 2012 and 2013.

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The Answer of During 2011, Farrah Ltd. purchased 4,000 shares of Rose of Sharon Corp. for $41 per share ($164,000 total). The company designated half of the shares as held for trading and half as available for sale. Farrah held these shares until September 2013, when it sold them for $52 per share. During these three years, Rose of Sharon paid dividends of $1 per share on July 31 each year. On Farrah's fiscal year-end (December 31), shares of Rose of Sharon closed at $51, $36, and $56 in 2011, 2012, and 2013, respectively.
Required:
Determine the amounts to be reported on Farrah's balance sheet and statement of comprehensive income with respect to the company's investment in Rose of Sharon Corp for 2011, 2012 and 2013.