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Walker Inc. began operations on January 1, 20X5. The company reports its financial statements in accordance with IFRS. On December 31, 20X5, the company owned the following investments:
Type
Category
Cost
Fair value at year end
Other
5% bonds
Amortized cost
$250,000
$249,000
Purchased at par on January 1, 20X5.
Shares
FVPL
$85,000
$93,000
$15,000 dividends declared in 20X5; $11,000 was received in the 20X5 fiscal year and the remaining $4,000 was received in the 20X6 fiscal year.
FVOCI
$45,000
$32,000
What is the total income from investments that Walker Inc. reported in the calculation of net income before taxes in the statement of comprehensive income for the year ended December 31, 20X5?
a) $21,500
b) $22,500
c) $31,500
d) $35,500
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