Cudmore Ltd. had two FVTPL investments at the end of 20X4, disclosed on the SFP as follows:

By the end of 20X4, unrealized losses of $3,700 related to the Kelowna Ltd. shares and unrealized gains of $15,264 related to the Burnaby Corp. shares had been included in earnings.

During 20X5, Cudmore sold the Kelowna shares after receiving a dividend of $1.30 per share. Cudmore received $82,000 for the shares, less a $1,200 commission. Cudmore also received a dividend of $2 per share on the Burnaby shares, and then sold 2,300 shares for $10.20 per share, less a $700 commission. Cudmore bought 700 Wilton Ltd. shares for $21,000 plus a $630 commission. This is an FVTPL investment.

At the end of the year, the fair value of the Kelowna shares was $84,000, Burnaby shares were $13.58 per share, and Wilton shares had a total fair value of $20,000.

Required:

1. List the items that would be included in 20X5 earnings with respect to the investments.

2. List the items that would appear on the 20X5 statement of financial position with respect to the investments.

3. What criteria would have to be met to show these investments as current assets? Long term assets?

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Kelowna Ltd. 2,000 shares $ 88,700 Burnaby Corp. 7,200 shares 66,240 $154,940