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1. The profit attributable to equity holders of Power for 2019 is 2. The consolidated Net income for 2019 should be Income statement information for
1. The profit attributable to equity holders of Power for 2019 is 2. The consolidated Net income for 2019 should be Income statement information for the year 2019 from the separate financial statements of Power corporation and its 75% owned subsidiary, Speed corporation is as follows: COP Scorp Sales F1,000,000 P460,000 Gain on sale of building 20.000 Cost of Sales 500,000 260,000 Depreciation expense 100,000 60,000 Other operating expense 200,000 40,000 Net income P220,000 P100,000 Power gain on sale of builing relates to a building with a book value of 140.000 and a 10-year remaining useful life that was sold to Skype for PE0,000 on January 1, 2018. Skype declared P100,000 dividends during the year
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