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Uli Ltd. is an investment management firm that had, at the beginning of the current year on January 1, 2021, a balance of $ 121,000

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Uli Ltd. is an investment management firm that had, at the beginning of the current year on January 1, 2021, a balance of $ 121,000 in its Trading Investments account (using the fair value through profit or loss model) and a balance of $ 497,000 in its Investment in Associates account (using the equity method). At the end of the year, these account balances were $ 132,000 and $ 603,000, respectively. During the year, dividends of $ 65,000 were received from associates while $9,000 was received from trading investments. In addition, the company purchased investments in associates and trading investments for cash of $ 128,000 and $ 52,000, respectively. Also, during 2021, the company received $ 46,000 when it sold trading investments that it carried at $ 32.000. (a) List the accounts that Uli will show on its 2021 statement of income pertaining to its investments. Indicate where these accounts will appear on the statement of income. (Enter loss using either a negative sign preceding the number eg.-2,945 or parentheses eg. (2,945).) UliLtd. Statement of Income $ TA UliLtd. Statement of Incor Dividends Expenses Net Income/(Loss) Other Income and Expenses Revenues Total Expenses Total Revenues Prove the ending balances in these accounts at December 31 by listing the beginning balance and all transactions for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) Held for Trading Investment Account Investments in Associates Balance, beginning of year $108,000 $491,000 Balance, end of year $123,000 5603,00 $603,000

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