At the end of 2023, AquaPure Ltd, with one subsidiary, had a holding representing 20% of the equity of Tech Ltd, a software development company. It had cost $80,000 when purchased at the start of 2022. At the time of that investment, Tech Ltd had net assets of $600,000 which increased to $900,000 by the end of that year. At the start of the current year, the investment was increased by a further 15% of the equity at a cost of $110,000.

(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) Analyze the impact on AquaPure Ltd's debt-to-equity ratio if Tech Ltd increases its leverage.