On January 1, 2012, LL Company acquired 20,000 shares, representing 20% of the outstanding shares of TT Limited at a price of $15 per share. On July 31, 2012, TT declared and paid a dividend of $1 per share. TT€™s net income for 2012 was $250,000. On December 31, 2012, the shares of TT were trading on the Toronto Stock Exchange at $18 per share.
Required:
LL is not sure how to report its investment in TT shares. Using the following format, indicate the amounts that would appear on the balance sheet and the statement of comprehensive income for 2012 if the investment is considered to be (a) available for sale, (b) held for trading, or (c) associate.

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Available Held for for saletrading Associate Balance sheet Investment in TTshares Statement of comprehensive income Dividend income Other income (specify types) Sub-totaleffect on net income Other comprehensive income Total effect on comprehensive income $80,000 80,000 50,000