At the end of 2023, AquaNova Ltd, with one subsidiary, had a holding representing 21% of the equity of Green Ltd, a sustainable technology company. It had cost $85,000 when purchased at the start of 2022. At the time of that investment, Green Ltd had net assets of $750,000 which increased to $1,100,000 by the end of that year. At the start of the current year, the investment was increased by a further 11% of the equity at a cost of $120,000.

(a) How would the investment be shown in the financial statements if it were treated as a trade investment? (b) How would the investment be shown in the financial statements if it were treated as an associated undertaking? (c) Evaluate the strategic fit of AquaNova Ltd's investment in Green Ltd within its overall corporate strategy.