Reference no: EM132602057

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                       fair value through 85,000       93,000           $15,000 dividends declared in 20X5;  $11,000 was received in profit or loss (FVPL) the 20X5 fiscal year and the remaining $4,000 was received in the 20X6 fiscal year.

Shares fair value through 45,000 32,000

other comprehensive

income (FVOCI)

Question 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?

Option a) $21,500

Option b) $22,500

Option c) $31,500

Option d) $35,500