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S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 20
Posted: Fri Jul 01, 2022 8:22 am
by answerhappygod
- S L Financial Buys And Sells Securities Expecting To Earn Profits On Short Term Differences In Price On December 27 20 1 (69.55 KiB) Viewed 32 times
S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2021, S&L purchased Coca-Cola bonds at par for $760,000 and sold the bonds on January 3, 2022, for $764,000. At December 31, the bonds had a fair value of $757,000. What pretax amounts did S&L include in its 2021 and 2022 net income as a result of this investment (ignoring interest)? (Enter all amounts as positive values.) 2021 2022 Pretax Amount