Gator Shoes, Inc., manufactures a line of stylish waterproof footwear
Gator Sneakers, Inc., manufactures a line of fashionable waterproof footwear. The next transactions relate to investments in frequent inventory. Assume that the securities are available-for-sale securities.March 1 Purchases 1,000 shares of Energy Drive Corporation’s frequent inventory for $42 per share.July 1 Receives a money dividend of $1.25 per share.October 1 Sells 250 shares of Energy Drive Corporation’s frequent inventory for $50 per share.December 31 The truthful worth of Energy Drive Corporation’s frequent inventory is $55 per share.