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Question 8 (1 point) On January 1, 20XX, ABC Corp had cash and common shares...

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Question 8 (1 point) On January 1, 20XX, ABC Corp had cash and common shares of $62,200 each. On that date, the company had no other asset, liability, or shareholders' equity balances. On January 2, 20XX, the company paid $41,450 cash for equity securities that it designated as fair value through other comprehensive income (FV-OCI) investments. During the year, the company received non-taxable cash dividends of $18,670 and had an unrealized holding gain of $25,910 (net of tax) on these securities. Determine the company's net income for 20XX. $17.737 $18,203 $18,670 $19,137 $19,604 Regarding presentation of discontinued operations, under IFRS, on the balance sheet, an entity must classify held-for-sale assets as current or non-current, depending on their nature. available for sale assets. current assets. Assets held for sale do not appear on the balance sheet

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