1

Emily Inc follows IFRS. On December 31st, 2020 has the following account balances: - Gain on disposal of FV-NI Investments (before tax) $3,750 - Loss from operation of discontinued operations (net of tax) $10,500 - Income from operations (before tax) $55,000 - Unrealized holding gain-OCI (net of tax) $3,000 (related to investments not quoted in an active market) - Income tax on income from continuing operations $15,750 - Loss on disposal of discontinued division (net of tax) $18,750

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

Calculate income from continuing operations

2

Emily Inc follows IFRS. On December 31st, 2020 has the following account balances: - Gain on disposal of FV-NI Investments (before tax) $7,500 - Loss from operation of discontinued operations (net of tax) $21,000 - Income from operations (before tax) $110,000 - Unrealized holding gain-OCI (net of tax) $6,000 (related to investments not quoted in an active market) - Income tax on income from continuing operations $31,500 - Loss on disposal of discontinued division (net of tax) $37,500

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

Calculate net income

3

Emily Inc follows IFRS. On December 31st, 2020 has the following account balances: - Gain on disposal of FV-NI Investments (before tax) $3,750 - Loss from operation of discontinued operations (net of tax) $10,500 - Income from operations (before tax) $55,000 - Unrealized holding gain-OCI (net of tax) $3,000 (related to investments not quoted in an active market) - Income tax on income from continuing operations $15,750 - Loss on disposal of discontinued division (net of tax) $18,750

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

Calculate other comprehensive income

4

Emily Inc follows IFRS. On December 31st, 2020 has the following account balances: - Gain on disposal of FV-NI Investments (before tax) $7,500 - Loss from operation of discontinued operations (net of tax) $21,000 - Income from operations (before tax) $110,000 - Unrealized holding gain-OCI (net of tax) $6,000 (related to investments not quoted in an active market) - Income tax on income from continuing operations $31,500 - Loss on disposal of discontinued division (net of tax) $37,500

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

Calculate comprehensive income

5

Rebecca Inc had 80,000 common shares outstanding on January 1st, 2020. On March 1st 2020, 16,000 were repurchased and on July 31st 2020, 12,000 were issued.

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

What is the amount of common shares outstanding on January 1st, 2021

6

Rebecca Inc had 80,000 common shares outstanding on January 1st, 2020. On March 1st 2020, 16,000 were repurchased and on July 31st 2020, 12,000 were issued.

Your answers should be provided with NO DOLLAR SIGNS ($), COMMAS (,) or PERIODS (.). For example, $100,000 should be entered as 100000

What is the weighted average number of shares outstanding for 2020