PYY acquired 10% of GCC by purchasing 50,000 ordinary shares on 1 January 20X1 for A$2.50 per share. Transaction costs of 2% were paid to a broker on the acquisition date. On initial recognition, PYY made the irrevocable election to measure the investment at fair value through other comprehensive income. At the year-end, 31 December 20X1, the shares were trading at A$2.65. For the year ended 31 December 20X1, what amount should be included in PYY's statement of profit or loss and statement of other comprehensive income? Solution A.Expense to profit or loss A$2,500 | Gain to other comprehensive income A$5,000. B.Gain to other comprehensive income A$5,000. C.Expense to profit or loss A$2,500 | Gain to other comprehensive income A$7,500. D.Gain to profit or loss A$5,000