Concord Corporation, a public company following IFRS has 65,000 common shares outstanding. Concord declared a property dividend on April 1, 2020. Each common shareholder was to receive one share of Zooloo Corp. for every 5 shares outstanding. Concord had 13,000 shares of Zooloo (2% of the outstanding shares) and had purchased them in 2015 for $104,000. The shares are accounted for using the FV-OCI model. The accumulated other comprehensive income account has a balance of $26,000 relating only to the Zooloo shares. The fair value of the Zooloo shares was $11 per share on April 1, 2020. The property dividend was distributed on April 21, 2020.