S&L Financial buys and sells securities expecting to earn
profits on short-term differences in price. On December 27, 2016,
S&L purchased Coca-Cola common shares for $805,000 and sold the
shares on January 3, 2017, for $809,000. At December 31, the shares
had a fair value of $800,500. These securities were classified as
Trading Securities.
On December 27, 2016, S&L purchased Coca-Cola common shares
for $730,000 and sold the shares on January 3, 2017, for
$733,000.
At December 31, the shares...