GENIUS Co. provided you with the following information regarding its investment in equity securities classified as financial assets at fair value through profit or loss. Cost Fair Value on Dec. 31, 2019 Cavaliers Co. 1,000 shares 21,000 19,000 Matthew Inc. 500 shares 10,000 9,000 David Corp. 200 shares 20,000 23,000 Apollo 1,000 shares 15,000 17,000 The following transactions and events transpired in 2020: a. A cash dividend of P4,000 was received from David Corp. on December 1, 2020. b. A 10% stock dividend was declared and issued in October by Cavaliers Co. when the market value per share was P22. C. Apollo shares were sold during the year for P16,500. The market values per share of the stocks at December 31, 2020 are as follows: Cavaliers - P20; Matthew - P14; David - P85. Requirements: 1. How much is the dividend income that should be recognized in 2020? 2. What should be recognized in P&L on sale of Apollo shares? 3. What is the effect of change in fair value of financial assets at fair value through profit or loss on the net income of 2020