Reference no: EM132612646

Walker Inc. began operations on January 1, 20X5. The company reports its financial statements in accordance with IFRS. On December 31, 20X5, the company owned the following investments:

Type                                         Category Cost                  Fair value at year end Other

5% bonds Amortized cost       $250,000                                    $249,000

Purchased at par on January 1, 20X5.

Face value is $250,000.

Shares FVPL 85,000 93,000 $15,000 dividends declared in 20X5; $11,000 was received in the 20X5 fiscal year and the remaining $4,000 was received in the 20X6 fiscal year.

Shares FVOCI                       45,000                                        32,000

Problem 1: What is the total income from investments that Walker reported in the calculation of net income before taxes in the statement of comprehensive income for the year ended December 31, 20X5?

a) $21,500

b) $22,500

c) $31,500

d) $35,500