What amount reported if the investment is considered

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Question 1: At the beginning of the year, Company P purchased 1,000 shares of Company S for $80per share. During the year, Company S paid a dividend of $5 per share. At the end of the year, Company S's share price was $78. What amount should Company P report in its income statement at year-end if the investment in Company S is considered a trading security, and what amount should be reported if the investment is considered an available-for-sale security?

Trading Available-for-sale

$3,000 $5,000

$3,000 ($2,000)

$5,000 $3,000

Reference no: EM132489435

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