=+2. On 1 January 2003, GOLD purchased 300,000 $1 ordinary shares in COP- PER, an American company, when there was a credit balance of $2,000,000 on the revenue reserves of COPPER. On this date the book value of the net assets of COPPER approximated to their fair value. GOLD has a participating interest in COPPER, exercising significant influence over the company’s operating and financial policies.