Robinson Company began operations in 2013. Since then, it has reported the following gains and...
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Robinson Company began operations in 2013. Since then, it has reported the following gains and losses for its investments in trading securities on the income statement: 2014 $ 15,000 $(20,000) $ 14,000 2013 2015 Gains (losses) from sale of trading securities Unrealized holding losses on valuation of trading securities (25,000) (30,000) Unrealized holding gain on valuation of trading securities 10,000 At January 1, 2016, Robinson owned the following trading securities: Cost $450,000 210,000 115,000 ASH Common (15,000 shares) LRH Preferred (2,000 shares) RCH Convertible bonds (100 bonds) During 2016, the following events occurred: 1. Sold 5,000 shares of ASH for $170,000 2. Acquired 1,000 shares of GBH Common for $40 per share. Brokerage commissions totaled $1,000. At 12/31/16, the fair values for Robinson's trading securities were: ASH Common, $28 per share LRH Preferred, $110 per share RCH Bonds, $1,020 per bond GBH Common, $42 per share
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