i need the answer following newest IFRS or IASB of instruction c

CA17.2 (LO2) (Equity Investments) Lexington Co. has the following equity investments on De- cember 31, 2019 (its first year of operations). Greenspan Corp. ordinary shares Summerset Company ordinary shares Tinkers Company ordinary shares Cost Fair Value znotran $20,000 $19,000 9,500 8,800 bb 20,000 20,600 drabb Finance $49,500 $48,400 do During 2020, Summerset Company shares were sold for $9,200, the difference between the $9,200 and the "fair value" of $8,800 being recorded as a "Gain on Sale of Investments." The market price of the shares on December 31, 2020, was Greenspan Corp. shares $19,900, Tinkers Company shares $20,500. Instructions a. What justification is there for valuing these investments at fair value and reporting the unrealized gain or loss in income? 052310 b. How should Lexington Company apply this rule on December 31, 2019? Explain. o zaw SH c. Did Lexington Company properly account for the sale of the Summerset Company shares? Explain. d. Are there any additional entries necessary for Lexington Company at December 31, 2020, to reflect the facts on the financial statements in accordance with IFRS? Explain