3. Dn lune 3D. EDI? Fiesta Co. purchased 25% of the outstanding ordinary shares of li'l" Co. at a total cost of P2.1DD.DDD. The book value of it? Cd's net assets on acquisition date was Presence. For the following reasons. Flesta was wllllng to pay more than book value for the it? Do. stock: I X't' Co. has depreclable assets with a current fair value of P1ED,DDD more than their boolt value. These assets have a remaining useful life of in years c Kt\" Co. owns a tract of land w; a current fair value of FDDDDD more than its carrying amount I All other identiable tangible and Intanglble assets of Ky Co. have current falr values that are equal to their carrying amounts. It? Do. reported net income of P1.52D.DDD earned evenly during the current year ended December 3 1. EDIT. Also in the current year, It declared and paid cash dividends of P315,DDD to Its ordinary shareholders. Market value ot'x'r I3on ordinary shares at December 31. EM? Is P95 million. Fiesta Company's nancial year-end is December 3 1. a. The total amount ofgoodwlll of lit" to. based on the price paid by Fiesta Is _ b. The amount of investment revenue that Fiesta should report on Its income statement for the year ended IZISUZDI? under the cost method is_ c. The amount of investment revenue that Flesta should report on Its income statement for the year ended 12f31f2D1? under the equity method is _ d. Under the equity method. the carrying value of the Flesta Cofs investment in ordinary shares of It? Go. In 12(312D1T should be e. The amount Flesta Co. should report on Its 12f31f2D1? balance sheet as Its investment In X'r' Co. under the costfl'air value method is