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Reading 13, book question #14. I think there is a problem with the answer as the answer is C but it doesn't match with the explanation. Can you please help to explain? Thank you!
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t the beginning of the year, Company P purchased 1,000 shares of Company S for $80 per share. During the year, Company S paid a dividend of $4 per share. At the end of the year, Company S's share price was $75.What amount should Company P report on its balance sheet 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? A $75,000 for trading; $75,000 for available-for-sale B $75,000 for trading; $80,000 for available-for-sale C $80,000 for trading; $80,000 for available-for-sale
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