63. On January 1, 2014, Michelle Company purchased 10% of another entity's outstanding ordinary shares for P6,000,000. The investment is classified as a nonmarketable security and accounted for appropriately under the cost method. The following data pertain to the investee's operation. 2014 2015 Net income 3,000,000 4,000,000 Dividend paid None 9,000,000 What amount should be reported as dividend income in 2015? a.900,000 b.700,000 c.400,000 d.200,000 64. On July 1, 2014, Louise Company acquired 20% of the outstanding ordinary shares of another entity for P5,000,000. The carrying amount of the acquired shares was P4,000,000. The excess of cost over carrying amount was attributable to an identifiable intangible asset which was undervalued on the investee's statement of financial position and which had a remaining useful life of 5 years. For the year ended December 31, 2014, the investee reported net income of P6,000,000 and paid cash dividends of P1,000,000 on ordinary shares and issued 10% stock dividend on December 31, 2014. What is the carrying amount of the investment in associate on December 31, 2014? a.5,900,000 b.5,400,000 c.5,300,000 d.5,800,000