Culver Inc. acquired 20% of the outstanding common shares of Gregson Inc. on December 31, 2019. The purchase price was $1,183,600 for 53,800 shares, and is equal to 20% of Gregsons carrying amount. Gregson declared and paid a $0.85 per share cash dividend on June 15 and again on December 15, 2020. Gregson reported net income of $481,000 for 2020. The fair value of Gregsons shares was $25 per share at December 31, 2020. Culver is a public company and applies IFRS.

What amount is reported for the investment in Gregson shares on the December 31, 2020 statement of financial position under each of these methods in Fair Value Method and Equity Method?

		Fair Value Method		Equity Method
Investment		$enter a dollar amount		$enter a dollar amount

Where is the investment reported on statement of financial position?

The Investment accounts under both Fair Value Method and Equity Method are likely to be included in select a balance sheet item non-current assetscurrent assetscurrent liabilitynon-current liability.

What amount is reported on Culvers statement of comprehensive income in 2020 under each of these methods, and where are the amounts reported?

Culver Inc. Statement of Comprehensive Income choose the accounting period For the Year Ended December 31, 2020For the Month Ended December 31, 2020For the Quarter Ended December 31, 2020
		Fair Value Method		Equity Method
select a comprehensive income item Investment IncomeCashUnrealized Gain on FV-OCI Investment During the YearDividend RevenueIncluded in Net Income		$enter a dollar amount		$enter a dollar amount
select a comprehensive income item Investment IncomeIncluded in Net IncomeDividend RevenueCashUnrealized Gain on FV-OCI Investment During the Year		enter a dollar amount		enter a dollar amount
select a summarizing line for the first part Unrealized Gain on FV-OCI Investment During the YearIncluded in Net IncomeCashInvestment IncomeDividend Revenue		$enter a total of the two previous amounts		$enter a total of the two previous amounts
Other comprehensive income:
select a comprehensive income item Investment IncomeUnrealized Gain on FV-OCI Investment During the YearCashDividend RevenueIncluded in Net Income		enter a dollar amount		enter a dollar amount
Effect on comprehensive income for 2020