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screenshot attached of question SMU Co. follows IFRS and has a December 31 year end. SMU has the following information concerning its investments held at

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SMU Co. follows IFRS and has a December 31 year end. SMU has the following information concerning its investments held at December 31, 2020: 1) Purchased shares of ABC Co. for $10,000 on July 1, 2019 plus $200 of transaction costs. The investment is accounted for using the fair value through net income (FV-NI) method. 2) Purchased shares of XYZ Co. for $4,000 on January 1, 2019. The investment is accounted for using the fair value through other comprehensive income (FV-OCI) method. Details of the investments in 2019 & 2020 follows: ABC Co. XYZ Co. 2019 2020 2019 2020 Dividends declared & paid $350 $100 $120 $135 Fair Value at Dec 31 $9,850 $10,300 $4,240 $3,700 None of the investments were considered impaired. On February 1, 2021, SMU sells all of its investments: 1) ABC Co. is sold for $10,250. 2) XYZ Co. is sold for $3,470 Required: a) Prepare all journal entries for SMU relating to the ABC Co. investment for 2019 & 2020 & 2021. b) Prepare all journal entries for SMU relating to the XYZ Co. investment for 2019 & 2020 & 2021. c) Ignoring tax impacts: Show the effect of the investments (accounts and amounts) on SMU's Statement of Comprehensive income for the years ended December 31, 2019, 2020, & 2021. lie. Accounts and amounts per year.) ") Show SMU's Classified Statement of Financial Position at December 31, 2020 for: All investment assets - accounts and amounts All equity accounts - accounts and amounts (Equity accounts will show the cumulative impact on the accounts for both years)

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