Question 1 Corinth Biotech Limited (CBL) started operations in January 2018. CBL reports under IFRS. The following activities occurred during the year: 1. On January 31, 2018, the shareholder, John Ahaz, contributed a parcel of land and a building located in Burnaby to CBL in return for 1,000 common. The land's appraised value was $110,000 while the building's appraised value was $420,000. The value of the common shares is unknown.