1.  Assuming that ALS Corp. exercises significant influence,  does not control the management and operations of JCN, what amount will ALS report on its 20X1 income statement as a result of its investment in JCN?

2. Assuming that ALS Corp. exercises significant influence over, but does not control, the management and operations of JCN, what amount will most likely be reported as the investment in JCN on the ALS December 31, 20X1 balance sheet?

3. Applying the "partial goodwill" approach under the IFRS acquisition method, what amounts will ALS Corp. report as Goodwill and noncontrolling (minority) interest, respectively, on its December 31, 20X0 post-acquisition balance sheet?

Use the following information to answer the next questions. On December 31, 20X0, ALS Corp. buys 50% of JCN's common stock for $50,000. The pre-acquisition balance sheets for each company as of December 31, 20X0 are as follows: Pre-acquisition Balance Sheets - December 31, 20X0 ALS Cori. JCN* Current assets Plant & equipment (net) Other assets Total assets Current liabilities Long-term liabilities Paid-in capital Retained earnings Total $100,000 200,000 50,000 Sales Cost of goods sold Gross margin Operating expenses Net Income $350.000 Dividends *Excludes any income from JCN. $ 25,000 100,000 25,000 200,000 $350,000 *The book values and fair values of identifiable assets and liabilities were the same except for plant & equipment (net), which had a fair value of $50,000, a remaining useful life of 10 years, and is depreciated using the straight-line method. One year later, the 20X1 income Statements for each company are .ps follows: Income Statements: Year Ended 12131120)(1 $25,000 40,000 10,000 $75,000 ALS Corp.* $ 6,000 9,000 5,000 55,000 $75,000 $500,000 300,000 200,000 100,000 $100,000 JCN $75,000 25,000 50.000 10 000 $15,000 $ 5,000