Exercise 9-25 On January 1, 2020, Whispering Winds Corporation purchased 40% of the common shares of Martz Limited for $198,000. Martz Limited shares are not traded in an active market. The carrying amount of Martz's net assets was $370,000 on that date. Any excess of the purchase cost over Whispering Winds's share of Martz's carrying amount is attributable to unrecorded intangibles with a 20- year life. During the year, Martz earned net income and comprehensive income of $76,000 and paid dividends of $15,200. The investment in Martz had a fair value of $203,000 at December 31, 2020. During 2021, Martz incurred a net loss and comprehensive loss of $81,000 and paid no dividends. At December 31, 2021, the fair value of the investment was $142,000 and the recoverable amount was $151,000. Assume that Whispering Winds follows IFRS. Illustrate how the statement of comprehensive income is affected in 2020. Net income will include the of SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Illustrate how the statement of comprehensive income is affected in 2021. Net income will include investment loss on the associate v x of sl and impairment loss of $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare relevant journal entry related to Whispering Winds's investment in Martz for 2020, if you were told that Martz's 2020 statement of comprehensive income included a loss from discontinued operations of $22,000 (net of tax)? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Credit TInvestment in Associate Debit Loss on Discontinued Oper S Investment Income or Los (To record investment income) Prepare the statement of comprehensive income if you were told that Martz's 2020 statement of comprehensive income included a loss from discontinued operations of $22,000 (net of tax)? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Martz Limited Comprehensive Income Statement December 31, 2020 V EX Exercise 9-25 On January 1, 2020, Whispering Winds Corporation purchased 40% of the common shares of Martz Limited for $198,000. Martz Limited shares are not traded in an active market. The carrying amount of Martz's net assets was $370,000 on that date. Any excess of the purchase cost over Whispering Winds's share of Martz's carrying amount is attributable to unrecorded intangibles with a 20- year life. During the year, Martz earned net income and comprehensive income of $76,000 and paid dividends of $15,200. The investment in Martz had a fair value of $203,000 at December 31, 2020. During 2021, Martz incurred a net loss and comprehensive loss of $81,000 and paid no dividends. At December 31, 2021, the fair value of the investment was $142,000 and the recoverable amount was $151,000. Assume that Whispering Winds follows IFRS. Illustrate how the statement of comprehensive income is affected in 2020. Net income will include the of SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Illustrate how the statement of comprehensive income is affected in 2021. Net income will include investment loss on the associate v x of sl and impairment loss of $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare relevant journal entry related to Whispering Winds's investment in Martz for 2020, if you were told that Martz's 2020 statement of comprehensive income included a loss from discontinued operations of $22,000 (net of tax)? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Credit TInvestment in Associate Debit Loss on Discontinued Oper S Investment Income or Los (To record investment income) Prepare the statement of comprehensive income if you were told that Martz's 2020 statement of comprehensive income included a loss from discontinued operations of $22,000 (net of tax)? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Martz Limited Comprehensive Income Statement December 31, 2020 V EX