Current Attempt in Progress

Rosewater Corporation, a publicly traded company using IFRS, is about to prepare its financial statements for the year ended April $30,$

During the year, the company sold one$-$quarter of its long$-$term bond investments that were intended to be held to maturity.

They had been held for over nine years but were sold just a few months prior to maturity for a gain of $$5,000.$ At the end of that year,

the remaining bonds, which the company still plans to hold to maturity, had a fair value that was $$9,000$ more than their carrying

amount. During the year, the company earned $$4,000$ of interest on these bonds but has only received $$3,000$ of this interest before

the end of the year. For the same year, the company also had a portfolio of equity investments that were held for trading that had a fair

value that was $$28,000$ higher than their carrying amount. The company also has an investment in an associate, and its share of that

associate's income was $$17,000$ for the year. The company received its share of all dividends that the associate declared and paid for

the year, amounting to $$8,000.$

Identify whether each of the above items should be included in net income or not.

Include in net income

Item

or not

Realized gain on long$-$term investments $$5,000$

Unrealized gain on long$-$term investments $$9,000$

Interest income $$4,000$

Unrealized gain on trading investments $$28,000$

Income from associate $$17,000$

Dividend from associate $$8,000$