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Quitzau's Fishing Inc. (QFI) is a privately owned company that elects to report its financial results in accordance with Part II (ASPE) of the CPA Canada Handbook - Accounting. QFI owns 40,000 of the 50,000 (80%) common shares of Marshall's Kiteboarding Corp. (MKC).
Pertinent financial information is as follows:
Problem 1: What was the total investment-related income that QFI should have reported on its income statement for the year ended December 31, 20X6, pertaining to its investment in MKC?
a) $11,000
b) $72,000
c) $83,000
d) $88,000
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