At the end of 2023, BlueSky Corp, with one subsidiary, had a holding representing 15% of the equity of Red Ltd, a retail company. It had cost $90,000 when purchased at the start of 2022. At the time of that investment, Red 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 10% 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) Calculate the percentage of net assets attributable to BlueSky Corp at the end of 2023.