Rios Financial Co. is a regional insurance company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Rios Financial Co., which has a fiscal year ending on December 31:
Year 1
Feb 1 – Purchased 7500 shares of Caldwell Inc as a trading security at $50 per share plus a brokerage commission of $75.
May 1. – Purchased 3000 shares of Holland Inc. as a trading security at $42 plus a brokerage commission of $90.