During the first year of operations,Makala Company purchased two available-for-sale investments as follows: Assume that as of December 31,Oceanna Company's stock had a market value of $49 per share and Rockledge,Inc.'s stock had a market value of $20 per share.Makala had 10,000 shares of no par stock outstanding that was issued for $150,000.For the year ending December 31,Makala had a net income of $105,000.No dividends were paid.

Question

During the first year of operations,Makala Company purchased two available-for-sale investments as follows:​​  Assume that as of December 31,Oceanna Company's stock had a market value of $49 per share and Rockledge,Inc.'s stock had a market value of $20 per share.Makala had 10,000 shares of no par stock outstanding that was issued for $150,000.For the year ending December 31,Makala had a net income of $105,000.No dividends were paid.​​

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The Answer of During the first year of operations,Makala Company purchased two available-for-sale investments as follows:​​  Assume that as of December 31,Oceanna Company's stock had a market value of $49 per share and Rockledge,Inc.'s stock had a market value of $20 per share.Makala had 10,000 shares of no par stock outstanding that was issued for $150,000.For the year ending December 31,Makala had a net income of $105,000.No dividends were paid.​​

During the First Year of Operations,Makala Company Purchased Two Available-For-Sale