An investor purchased 552 shares of common stock, $24 par, for $27,048. Subsequently, 109 shares were...
An investor purchased 552 shares of common stock, $24 par, for $27,048. Subsequently, 109 shares were sold for $30 per share. What is the amount of gain or loss on the sale?
Homework Answers
Sale proceeds of shares (109 shares*$30 per share) = $3270
Less: Cost of shares ($27048 / $552)*109 shares = $5341
Loss on sale is $ 2071
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