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Hammons restaurants should report a total gain

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Reference no: EM131876187

Question: On October 18, 2017, Hammons Restaurants purchased 8,000 shares of Bronson Food Distributors for $30 per share.

On December 6, Hammons sold 2,000 shares of Bronson's stock for $35 per share. On December 31, 2017, the market price of Bronson's stock was $28 per share.

On their December 31, 2017 income statement, Hammons Restaurants should report a total gain/loss of related to their Bronson investment.

Reference no: EM131876187

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