. Kharmangi Corp. purchased 1,000 common shares of Xendaya Ltd., a publicly-traded company, for $52,800. During the year Xendaya paid cash dividends of $2.60 per share. At year-end, due to a temporary downturn in the market, the shares had a market value of $45 per share. Hubbles business model is to collect the dividend cash flows for now, and sell this investment if/when the share price reaches 54,000. Hubble follows IFRS and has elected to classify this investment as FVOCI equities, with recycling to best fit with their intentions to sell, but at a later date. Required: a. How would Hubble report this investment? b. Prepare Hubbles journal entries for the investment purchase, the dividend, and any year-end adjusting entries. Is the drop in market price due to an investment impairment? c. Prepare the sale entry if Hubble sells the investment one week into the next fiscal year for $54,200 cash.