Question: 5 . On November 3 0 , 2 0 2 0 , Singh Inc., made the journal entry to record the exercise of a call

5. On November 30,2020, Singh Inc., made the journal entry to record the exercise of a call option it purchased on May 1,2020 for \(\$ 9,500\), which gave it a right to purchase shares of Balsa Inc., for \(\$ 10\) each until December 31,2020. The fair value of the call option was last updated on October 31,2020. The following journal entry was made:
DR .... Investment- Balsa Inc., Common Shares ........\$145,000;
CR ..... Derivative - Call Option ........\$18,000;
CR ..... Cash ........\$100,000;
CR ..... Gain on Derivative - Call Options ........\$27,000.
Determine the market value of Balsa shares on November 30,2020, the number of shares purchased, the total overall gain or loss from the call option and the fair value of the call option on October 31,2020.
5 . On November 3 0 , 2 0 2 0 , Singh Inc., made

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