Among the various responsibilities of the Chief Financial Officer (CFO) of the Amphlett Corporation

Question 1:Among the various responsibilities of the Chief Financial Officer (CFO) of the Amphlett Corporation was the management and oversight of the firm's cash reserves. During the year, the CFO had invested some of the firm's excess cash in what she thought were three undervalued stocks. All of the securities were classified as availabIe*for-sale. At year-end, she reviewed how the portfolio of investments had done.The balance sheet of The Miller Corporation disclosed a long-term investment in the common shares of The MannCorporation valued at $350,000 as of December 31,2012.The investment had been purchased by The Miller Corporation in January, 2009. Further, the following financialinformation from The Mann Corporation is available:At the beginning of the year, The Mann Corporation, a private entity, decided to go public.A charter of incorporation was constructed which authorized the sale of 10 million shares of SI par value commonstock, 100.000 shares of Si 00 par value, 8* preferred stock, and 200,000 shares of S5 no-par-value convertiblepreferred stock.The following shares were sold as part of the firm's initial public offering:The shareholders' equity section of the consolidated balance sheet of CompX International appeared as follows at thebeginning of the year: