At the beginning of the? year, joan? steel, inc. purchased? 10,000 shares of smith? metals, inc. for? $34,000 in exchange for cash and now holds? 3.2% of the voting stock of smith? metals, inc. the management of joan steel intends to hold this stock for two years. assuming no other transaction happened during the? year, the? in the balance sheet will increase.
a. ? long-term investments
b. current assets
c. cash
d. total assets