Answer this correctly. Thank you in advance!

CHAPTER 17: REVIEW QUESTIONS - COMPUTATIONAL PROBLEM 17-1 Different Cases At the beginning of the current year, the Catherine Company purchased 40% of the ordinary shares of Buban Company for P7,000,090. At the acquisition date, the carrying amounts of the identifiable assets and liabilities of the investee were equal to their fair value, except for equipment for which the fair value was P3,000,000 greater than the carrying amount and the inventory whose fair value was P1,000,000 greater than cost. The equipment has a remaining life of 4 years and the inventory was all sold during the current year. The investee reported net income of P8,000,000 and paid P2,000,000 dividends on October 1 of the current year. Required: Assume the following independent cases, determine the balance of: 1. Investment income during the current year. 2. Investment account balance at the of the current year. CASE NO. 1: Assume that the investment is accounted for as investment in equity designated as at FVTOCI and the fair value of the share is P8,000,000. CASE NO. 2: Assume instead that the carrying amount of net assets of the investee on the date of acquisition is P10,000,000. CASE NO. 3: Assume instead that the carrying amount of net assets of the investee on the date of acquisition is 10,000,000. Also, assume that the date of acquisition is April 1 of the current year. CASE NO. 4: Assume instead that the carrying amount of net assets of the investee on the date of acquisition is P14,000,000. CASE NO. 5: Assume instead that the carrying amount of net assets of the investee on the date of acquisition is P18,000,000. CASE NO. 6: Assume instead that the carrying amount of net assets of the investee on the date of acquisition and at the end of the reporting period is: January 1 December 31 Share capital 8,000,000 8,000,000 Revaluation surplus 3,000,000 Retained earnings 4,000,000 10,000,000 The revaluation surplus is the result of revaluation of the land recognized by Buban Company on December 31, of the current year. Additionally, depreciation is provided by Buban Company on the diminishing balance method whereas Catherine Company uses straight-line method. Had Buban Company used the straight-line, the accumulated depreciation would be increased by P400,000. The tax rate is 30%