2. Investment in Green Corporation stock 2/5/16 You purchase 3,100 shares of Gre

Question

2. Investment in Green Corporation stock 2/5/16 You purchase 3,100 shares of Green Corporation slock for $13.12 per share. (Green Corporation has 220,000 shares 7731/16 You receive $0.16 per share as a dvidend payment from Green Corporation 11/1/17 You sel 800 of your shares of Green Corporation stock for $10,608 in adotion, you pay a broker fee of $40 outstanding ) You pay a broker fee of $1,240 What is the amount of the gain or loss on the sale of the shares on 11/15/172 Enter a GAIN as a posidive number or a LOSS as o negatve numbor using a minus sign

Explanation / Answer

Purchase Cost - 3,100 Shares X $13.12          40,672 Add: Broker Fees            1,240 Total Cost for 3,100 Shares          41,912 Cost of 800 Shares = $41,912 X 800 Shares / 3,100 Shares Cost of 800 Shares = $10,816 Selling price of 800 Shares          10,608 Less: Broker Fees                (40) Net Sales          10,568 Less: Cost of 800 shares       (10,816) Gain (Loss) on sale of Shares             (248)

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