Your friend, Martin, is considering investing in the shares of Malo Ltd as the company's return on equity (ROE) outperformed that of its main competitor Bueno Ltd. The summarised financial statements of Malo Ltd and Bueno Ltd for their financial year ended 31Dec Malo Ltd reported $1,000,000 of Investments at FVTPL in its balance sheet as at 31 December 2019. It sold some Investments at FVTPL on 1 January 2020. The company then purchased some new Investments at FVTPL on 1 April 2020 at $230,000, incurring a transaction cost of $12,000. These are the only transactions involving Investments at FVTPL during the year. Required (i) Determine the proceeds from the sale of the Investments at FVTPL on 1 January 2020. (6 marks) Your friend, Martin, is considering investing in the shares of Malo Ltd as the company's return on equity (ROE) outperformed that of its main competitor Bueno Ltd. The summarised financial statements of Malo Ltd and Bueno Ltd for their financial year ended 31Dec Malo Ltd reported $1,000,000 of Investments at FVTPL in its balance sheet as at 31 December 2019. It sold some Investments at FVTPL on 1 January 2020. The company then purchased some new Investments at FVTPL on 1 April 2020 at $230,000, incurring a transaction cost of $12,000. These are the only transactions involving Investments at FVTPL during the year. Required (i) Determine the proceeds from the sale of the Investments at FVTPL on 1 January 2020. (6 marks)