On May 1, 2016, an unrelated person acquired 60% of the voting shares of Novell Inc. The values of the assets owned by Novell Inc. at May 1, 2016, were as follows:

In determining the value of the receivables, the collectibility of each debt was considered individually.

REQUIRED

Which of the accrued (unrealized) losses in the above assets must be recognized by Novell Inc. in determining its income for tax purposes for the deemed year ended April 30, 2016?

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Assets Inventory Accounts receivable. Equipment. Marketable securities Eligible capital property Cost $10,000 20,000 30,000 40,000 50,000 UCC/CEC N/A N/A $28,000 N/A 36,000 FMV $ 8,000 15,000 12,000 10,000 42,000