Quick investment Company (QIC) began operation on January 1, 2020. It acquired the following investment. Type Category Cost Fair Value at Year End Bonds Amortized cost $ 195,000 $ 198,000 Shares At fair value through profit or loss $ 55,000 $ 75,000 Shares At fair value through OCI $ 60,000 $ 70,000 OCI earned interest of 12,000 during 2020.Dividends of 16,000 were declared on the FVOL shares it owned during 2020 of that amount $ 9,000 was received in December 2020 and $ 7,000 was received in January 2021 (note that ex-dividend date for these shares was prior to the end of the year.) How much would QIC's total income from investments be on the profit or loss portion of its statement of comprehensive income for the year ended December 31, 2020?

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To calculate QICs total income from investments on the profit or loss portion of its statement of co... View the full answer