MAYS J W INC
For the period ended Jul 31, 2024. Filed Oct 24, 2024.
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FY2024 · Filed Oct 24, 2024
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EX-13 · 2. MARKETABLE SECURITIES:
- MARKETABLE SECURITIES:
The Company’s remaining marketable securities consisting of investments in equity securities and mutual funds were sold in May 2024. Net realized gain on the sale of marketable securities for the year ended July 31, 2024, including liquidation of the remaining marketable securities in May 2024 aggregated $124,907, with proceeds of $2,544,927.
As of July 31, 2024 and 2023, the Company’s marketable securities were classified as follows:
| Schedule of classified marketable securities | July 31, 2024 | July 31, 2023 | ||||||
|---|---|---|---|---|---|---|---|---|
| Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |
| Available-for-sale: | ||||||||
| Mutual funds | $— | $— | $— | $— | $595,166 | $301,007 | $— | $896,173 |
| Equity securities | — | — | — | — | 904,981 | 499,287 | — | 1,404,268 |
| $— | $— | $— | $— | $1,500,147 | $800,294 | $— | $2,300,441 | |
Investment income (loss) for the years ended July 31, 2024 and 2023 consists of the following:
| Schedule of investment income (loss) | 2024 | 2023 |
|---|---|---|
| Dividend and interest income | $87,922 | $98,335 |
| Net realized gain on sale of marketable securities | 124,907 | 130,009 |
| Net unrealized (loss) on marketable securities | — | (366,206) |
| Total | $212,829 | $(137,862) |
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