At the beginning of 2015, Bering Limited purchased three investments: Government of Alberta bonds, which are to be held to maturity; common shares in Atlas Inc., representing only 1% of the outstanding shares of this company, that are expected to be traded soon; and 40% of the common shares in CH Resources Ltd. The cost and the fair value at December 31, 2015, for each of these investments is shown below:

During 2015, interest revenue of $3,000 was earned and received on the Government of Alberta bonds and CH Resources Ltd., which had a profit in 2015 of $10,000, declared and paid dividends of $2,000 to all of its common shareholders. No dividends were received on the Atlas Inc. shares.
Instructions
(a) The board of directors of Bering Limited is considering the use of IFRS and is aware that there are choices that can be made when accounting for investments using these standards. The board would like you to choose the appropriate model for each type of investment that will maximize Bering's financial position and profitability and determine the amounts that would appear on the December 31, 2015, financial statements given these choices.
(b) Assuming that the company may prefer to use ASPE rather than IFRS, address the issues raised in part (a) above but do this in an ASPE context?

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Security Government of Alberta bonds Atlas Inc. common shares CH Resources Ltd. common shares Cost $100,000 100,000 100,000 Fair Value 90,000 105,000 111,000