Some of the account balances of Vos Limited at December 31, 2016 are as follows:

$4 Preferred shares (2,500 shares authorized, 2,500 shares issued and outstanding)$530,000Common shares (unlimited authorized, 49,000 shares issued and outstanding)560,000Contributed surplus109,000Retained earnings796,000Accumulated other comprehensive income23,850

The price of the company's common shares has been increasing steadily on the market; it was $23 on January 1, 2017 and advanced to $26 by July 1 and to $29 at the end of 2017. The preferred shares are not openly traded but were appraised at $122 per share during 2017. Vos follows IFRS and had net income of $153,000 during 2017.

The company declared a property dividend on April 1. Each common shareholder was to receive one share of Waterloo Corp. for every 10 shares outstanding. Vos had 8,500 shares of Waterloo (2% of the outstanding shares), and had purchased them in 2012 for $69,500. The shares are accounted for using the FV-OCI model. The accumulated other comprehensive income relates only to these shares. The fair value of the Waterloo shares was $18 per share on April 1. The property dividend was distributed on April 21 when the fair value of the Waterloo shares was $19.50. The Waterloo shares remained at a fair value of $19.50 until year end.

Apr. 1

(To record gain or loss on fair value adjustment)

Apr. 1

(To record property dividends)

Apr. 1

(To record fair value increase realized through dividend)

Apr. 21