Minnie Company purchased 40,000 common shares (20%) of Mickie Inc. on January 1, Year 4, for $680,000. Additional information on Mickie for the three years ending December 31, Year 6, is as follows: Year Net income Dividends Paid Market Value Per Share at December 31 $400,000 $300,000 $18 Year 4 Year 5 Year 6 450,000 320,000 20 480,000 350,000 23 On December 31, Year 6, Minnie sold its investment in Mickie for $920,000. Instructions: Management has asked you to determine the amounts to prepare on the financial statements which will be provided to the external users. Management will not tolerate errors in the numbers that you provide or formatting errors as these numbers will be directly inputted into the financial statements. Enter all numbers without dollar signs. Round numbers to the nearest whole dollar, do not enter any decimals in your number. Use commas properly. Do not show numbers such as expenses and dividends as negative. If the amount is zero, enter 0, do not leave any answers blank. For example, a properly formatted number is 125,250. Numbers incorrectly formatted with not result in any marks. Part A Compute the balance in the investment account at the end of Year 5, assuming that the investment is classified as fair value through profit and loss (FVTPL). The balance in the investment account is A Calculate how much income would be reported through net income in Year 5 assuming that the investment is classified as fair value through profit and loss (FVTPL). The net income reported is A Calculate how much income would be reported through other comprehensive income (OCI) in Year 5 assuming that the investment is classified as fair value through profit and loss (FVTPL). The OCl reported is Calculate how much income would be reported through net income in Year 6 assuming that the investment is classified as fair value through profit and loss (FVTPL). The net income reported is Calculate how much income would be reported through other comprehensive income (OCI) in Year 6 assuming that the investment is classified as fair value through profit and loss (FVTPL). The OCI reported is Part B Compute the balance in the investment account at the end of Year 5, assuming that the investment is classified as an investment in an associate. The value in the investment account is Calculate how much income would be reported through net income in Year 5 assuming that the investment is classified as an investment in an associate. The net income reported is Calculate how much income would be reported through other comprehensive income (OCI) in Year 5 assuming that the investment is classified as an investment in an associate. The OCI reported is Calculate how much income would be reported through net income in Year 6 assuming that the investment is classified as an investment in an associate. The net income reported is Calculate how much income would be reported through other comprehensive income (OCI) in Year 6 assuming that the investment is classified as an investment in an associate. The OCI reported is AM Part C Compute the balance in the investment account at the end of Year 5, assuming that the investment is classified as fair value through OCI (FVTOCI). The balance in the investment account is Calculate how much income would be reported through net income in Year 5 assuming that the investment is classified as fair value through OCI (FVTOCI). The net income reported is Calculate how much income would be reported through other comprehensive income (OCI) in Year 5 assuming that the investment is classified as fair value through OCI (FVTOCI). The OCl reported is A Calculate how much income would be reported through net income in Year 6 assuming that the investment is classified as fair value through OCI (FVTOCI). The net income reported is A/ Calculate how much income would be reported through other comprehensive income (OCI) in Year 6 assuming that the investment is classified as fair value through OCI (FVTOCI). The OCl reported is
