Problem
A firm invested in equity securities of another firm. They purchased <1% of voting shares and are thus accounting for these equities as passive investments. In October they bought 100 shares at the price of $80 per share. During the quarter the price of these shares was volatile but they finished the quarter at $90 per share. The securities also paid a dividend of $2 per share once during the quarter. What was the value of this investment on the balance sheet at the end of the quarter?