In January 2022, the management of Sunland Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred. Jan. Feb. 1 Purchased 66 $1,000, 7% TRC bonds for $66,000. Interest is payable annually on December 31. Purchased 1,230 shares of LAF common stock for $54,120. Purchased 480 shares of NCL common stock for $17,280. Received a cash dividend of $0.80 per share on the LAF common stock. Sold 194 shares of LAF common stock at $43 per share. Received $2 per share cash dividend on the NCL common stock. Received the annual interest on the TRC bonds. Sold the TRC bonds for $75,415. 1 Mar. 1 July 1 Aug. 1 Sept. 1 Dec. 31 31 At December 31, the fair values of the LAF and NCL common stocks were $40 and $29 per share, respectively. These stock investments by Sunland Company provide less than a 20% ownership interest.