On January 1, 2012, LL Company acquired 20,000 shares, representing 20% of the outstanding shares of TT
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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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