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During 2023, Elisabeth Ltd. purchased 2,000 shares of Rose of Sharon Corp. for $25 per...

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Accounting

During 2023, Elisabeth Ltd. purchased 2,000 shares of Rose of Sharon Corp. for $25 per share $50,000 total). Elisabeth held these shares until September 2025, when it sold them for $36 per share. During these three years, Rose of Sharon paid dividends of $2 per share on July 31. On Elisabeth's fiscal year-end (December 31), shares of Rose of Sharon closed at $34,$20, and $38 in 2023,2024, and 2025, respectively.
Required
Assume that the company designated half of the Rose of Sharon shares as FVPL and the other half irrevocably elected to record fair value changes through OCI. Determine the amounts to be reported on Elisabeth's balance sheet and statement of comprehensive income with respect to the company's investment in Rose of Sharon Corp. What do you observe about the total amount of retained earnings for the three years combined?
any zero balances. Use a minus sign or parentheses to show a loss or a decrease in an account.)
Balance sheet
Financial asset
Equity: AOCl on Rose of Sharon shares*
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