Question - Entity A bought an investment in equity shares for $40,000,000 plus associated transaction costs of $1,000,000. The asset was designated upon initial recognition as fair value through other comprehensive income. At the reporting date the fair value of the financial asset had risen to $60,000,000. Shortly after the reporting date the financial asset was sold for $70,000,000.
REQUIRED - Evaluate the amount recognised to the Profit or Loss on disposal. (If your answer is a gain on disposal of 88, you should enter 88, otherwise, you should enter -88 for a loss on disposal.)