Business, 05.05.2020 17:40 jamarstand

S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2021, S&L purchased Coca-Cola bonds at par for $860,000 and sold the bonds on January 3, 2022, for $866,000. At December 31, the bonds had a fair value of $858,500. What pretax amounts did S&L include in its 2021 and 2022 net income as a result of this investment (ignoring interest)?

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S&L Financial buys and sells securities expecting to earn profits on short-term differences in p...

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