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Please help answer the following with workings On 1 June 2018, Happy Ltd purchased 80,000 shares in Green Ltd at a price of $5 each.

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Please help answer the following with workings

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On 1 June 2018, Happy Ltd purchased 80,000 shares in Green Ltd at a price of $5 each. The transaction costs for the purchase are $4,000, paid in cash. On 31 May 2020 (Balance Date), the closing market price for a share in Green Ltd is $2. The Investment in Green Ltd is not held for trading. (a) Assuming Happy Ltd measures its share investments at \"fair value through profit or loss", provide thejournal entries to account for the investment in Green Ltd shares as required by NZ IAS 32 and NZ IFRS 9, and disclose the financial asset and related gain or loss on fair value on the financial statements for the year ending 31 May 2019. (8 marks) (b) Assuming Happy Ltd has made the election to account for its share investments at \"fair value through other comprehensive income\

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