The stock is classified as available

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Reference no: EM13922079

On February 15, Seacroft buys 7,700 shares of Kebo common at $28.60 per share plus a brokerage fee of $430. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.22 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 15 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.37 per share less a brokerage fee of $285. The fair value of the remaining shares is $29.57 per share. The amount that Seacroft should report in the asset section of its year-end December 31 balance sheet for its investment in Kebo is:

$220,650.

$2,464.

$113,844.

$3,520.

$6,517

Reference no: EM13922079

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