(APPENDIX) TRADING SECURITIES

Franzen Finance began operations in 2009 and invests in securities classified as trading securities. During 2009, it entered into the following trading security transactions:
Purchased 20,000 shares of ABC common stock at $38 per share
Purchased 32,000 shares of XYZ common stock at $17 per share
At December 31, 2009, ABC common stock was trading at $39.50 per share and XYZ common stock was trading at $16.50 per share.
(APPENDIX) TRADING SECURITIES