Assume that all companies in this scenario are public companies listed on the Australian Stock Exchange. Assume that each company has 1,000,000 ordinary shares on issue. On 1 July 2020, Winsor Ltd purchased 2,500 ordinary shares of Xena Ltd and 1,000 ordinary shares of Yarra Ltd. On the same day, Yarra Ltd purchased 5,000 ordinary shares of Zelo Ltd. The market share prices of Xena Ltd, Yarra Ltd, and Zelo Ltd at the following dates (purchase date and end of financial year) are listed below: 1 July 2020 30 June 2021 XenaLtd $10.12 YarraLtd $8.50 ZeloLtd $3.65 $10.34 $6.50 $3.75 In addition, the following costs were incurred by the investor in each of the share purchases. All stamp duties and brokerage fees were paid in cash on the day of the share purchase. Employee salaries are accrued on the day of purchase and paid at the end of each month. Brokerage fees Stamp duties Purchasing Shares of Xena Ltd $1,265 $759 Employee salaries* $506 Purchasing Shares of Yarra Ltd $425 $255 $170 Purchasing Shares of Zelo Ltd $913 $548 $365 for time spent in evaluating and transacting the share purchases. Winsor Ltd had elected, as a general accounting policy, to record all changes in fair value of its investments through other comprehensive income (OCI). Winsor Ltd purchased the shares in Xena Ltd with the view of holding them for a long period of time to receive dividend income. In contrast, Winsor Ltd purchased the shares in Yarra Ltd with the expectation of reselling the shares within six months at a much higher share price. Yarra Ltd generally records the changes in the fair value of its share investments through profit and loss.