Total income from investments

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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.

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

 

What is the total income from investments that Walker Inc. 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

Reference no: EM13845831

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