Manitoba Ltd. Purchased 1,000 shares of Spectrum Company for $20 per share on January 1, Year 1. Manitoba chose to classify this equity investment as FVOCI. On December 31, Year 1, the market price of Spectrum's stock was $23. On March 1, Year 2, all 1,000 shares of Spectrums stock were sold for $24 per share. Under IFRS, on December 31, Year 1, the journal entry for this equity investment would include: a) A credit to other comprehensive income for $3,000 b)A credit to Unrealized Gains for $3,000 c) A debit to other comprehensive income for $3,000 d) A credit to other comprehensive income for $1000

Under IFRS, ON March 1, Year 2, the journal entry for the sale of this equity investment would include: a)A debit to other comprehensive income for $1000 b)A credit to gains on sale of equity investment for $4,000 c)A credit to other comprehensive income for $1,000 d) A credit to gains on sale of equity investment for $1,000