ANIMO, Inc. acquired 30% of Archer Corp.'s ordinary shares on January 1, 2021 for P400,000. During 2021, Archer earned P160,000 and paid dividends of P100,000. ANIMO's 30% interest in Archer gives ANIMO the ability to exercise significant influence over Archer's operating and financial policies. During 2022, Archer earned P200,000 and paid dividends of P60,000 on April 1 and P60,000 on October 1. On July I, 2022, ANIMO sold half of its shares in Archer for P264,000 cash