Current Attempt in Progress

Concord Corp. owns $100\%$ of the $8390000$ outstanding common shares of Pharoah Inc. In order to generate much needed cash,

management of Concord sold $3490000$ shares for $$10280000.$ How should management account for the investment in Pharoah if it is

using IFRS as a standard?

Cost Method.

Equity Method.

Consolidation.

Management can choose from any of these methods.