Problem 22-9 (LAA) Farmland Company has different kinds of farm animals at the beginning of current year. During the current year, several acquisitions occurred related to these farm animals. Detailed summary of transactions Carrying amount on January 1: 15 Horses ( 1 year old ) 900 1,000,000 10 Dairy cattle (2 years old ) 090 08400,000 8 Carabaos (2.5 years old ) 800 200,000 20 Hogs ( 3 years old ) 500,000 Purchases on June 30: 4 Dairy cattle ( 1 year old ) 150,000 6 Carabaos ( 6 months old ) 100,000 Fair value less cost of disposal on December 31: 15 Horses ( 1 year old ) 1,200,000 10 Dairy cattle (2 years old ) 520,000 8 Carabaos ( 2.5 years old ) 250,000 20 Hogs (3 years old ) 550,000 4 Dairy cattle ( 1 year old ) 170,000 6 Carabaos ( 6 months old ) 110,000 Fair value less cost of disposal on December 31: 15 Horses 2 years old ) 1,350,000 10 Dairy cattle (3 years old ) 580,000 8 Carabaos ( 3.5 years old ) 290,000 20 Hogs (4 years old ) 600,000 4 Dairy cattle ( 1.5 years old ) 200,000 6 Carabaos (1 year old ) 140,000 There were no farm animals sold during the year and neither were there any newborns nor deaths. 1. What is the carrying amount of the biological assets December 31? a. 3,160,000 b. 2,350,000 C. 2,800,000 d. 2,380,000 2. What amount should be reported as gain from change in fair value attributable to price change? a. 810,000 b. 450,000 C. 360,000 d. 0 3. What amount should be reported as gain from change ir fair value attributable to physical change? a. 810,000 b. 450,000 C. 360,000 gath ip d. 700,000