On January 5, 2020, Splish Brothers Company purchased the following stock securities:
282 shares Bonter Corporation common stock for $4,230.
470 shares Wane Corporation common stock for $9,400.
752 shares Strauss Corporation common stock for $21,432.
Assume that Splish Brothers Company cannot exercise significant influence over the activities of the investee companies and that the cost method is used to account for the investments.
On June 30, 2020, Splish Brothers Company received the following cash dividends:
Bonter Corporation$2.00 per share
Wane Corporation$1.00 per share
Strauss Corporation$1.50 per share
On November 15, 2020, Splish Brothers Company sold 156 shares of Strauss Corporation common stock for $7,020.
On December 31, 2020, the fair value of the securities held by Splish Brothers Company is as follows:
Bonter Corporation common stock
$10
Wane Corporation common stock
16
Strauss Corporation common stock
28
