Louie Co. stocks were acquired on March 1, 2018 at a total cost of P200,000 Brokerage fees and commissions amounted to P40,000. Dividends which were declared on January 25, 2018 to stockholders on record as of March 20, 2018 were received on April 1, 2018 at P20,000. Louie Co. stocks were acquired by the company with the intention of designating the same as a financial asset at fair value through profit or loss. The stocks were selling at P105 per share as of December 31 2018