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4. Crissa Company owned 100% of another entity's preference shares and 40% of ordinary nshares. The investee's share capital outstanding on December 31, 2013 included

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4. Crissa Company owned 100% of another entity's preference shares and 40% of ordinary nshares. The investee's share capital outstanding on December 31, 2013 included P5,000,000 of 10% cumulative preference shares and P10,000,000 of ordinary shares. The investee reported net income of P6,000,000 for 2013. No dividend was declared for both preference and ordinary share in 2013. What amount should be reported as investment income for 2013? a. 5,500,000 b. 2,400,000 c. 2,200,000 d. 2,700,000

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