Judicious Company acquired an equity investment a number of years ago for P3,000,000 and classified a as fair value through other comprehensive income. On December 31, 2020, the cumulative loss recognized in other comprehensive income was P 400,000 and the carrying amount of the investment was P 2,600,000. On December 31, 2021, the issuer of the equity instrument was in sever financial difficulty and the fair value of the equity investment had fallen to P 1.200.000 Required: What cumulative amount of unrealized loss should be reported as component of other comprehensive income in the statement of changes in equity for the year ended December 31. 2021? Prepare journal entry to recognize the decrease in value on December 31, 2021