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Change of equity value in jacks

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On 1st January 2020 Jack sold short 500 shares of Google stock at $250/share . 50% is the Initial Margin Requirement which is financed by cash. On 1st March 2020 Google paid a dividend of $10.00/share. On 1st April 2020 Jack closed the short position by buying Google stock at a price of $240/share. Jack paid $1.50 per share in commission for each trading transaction.

Calculate the change of equity value in Jacks account between 1st January and 1st April 2020 as a result of the trading position. Explain workings.

Reference no: EM132766931

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