need solutions please

Problem 1 On January 1, 2021, Lucky Company loaned P3,000,000 to Carter Incorporated at 10% annual interest. The loan is due after four {4) years. Lucky Company incurred direct origination cost of P120,000 and Carter paid direct origination tee of P213,273. Interest effective after considering direct cost and fees is at 11%. What is the initial amortized cost of the Loan on January 1, 2021? How much is the interest income recognized in its 2021 income statement? What is the carrying value oi the loan on December 31, 2021 ? What is the carrying value c! the loan on December 31, 2022? PPN.' Problem 2 On February 1, 2021, Michael Company loaned P10,000,000 to Sarah Company. The loan is to repayable after 2 years. Interest on this loan is 2% annually and a direct origination cost of 1% of the total loaned amount is paid by Michael and direct origination fee was deducted to the proceeds received by Sarah Company. The interest effective on this loan is 3.5%. How much is the direct origination fee? What is the initial amortized cost of the loans? How much is the interest income recognized in its 2021 income statement? What is the carrying value of the loan on December 31, 2021? What is the carrying value of the loan on December 31, 2022? .U'PP'N.\" Problem 3 Details for one of the loan of Lucifer Company that is probably impaired during the period is as follows: a. The company made a loan of P100,000,000 to a customer with similar credit risk to Lucifer Company on January 1, 2020. b. Interest is receivable on this loan at the end of each year at 4.5% per annum for the next ten years. c. The loan was properly recorded and classied as amortized cost. d. The company made and initial assessment of the loan and the total expected credit losses over the life of the loan was P15,000,000. The discount rate applicable was at 3%. e. On January 1, 2020, the probability of default over the next 12 months was 10%. On December 31, 2020, there was no indication of impairment nor increase in credit n'sk. At December 31, 2021, there was a signicant increase in the credit n'sk on the loan made by Lucifer Company, the expert assessed that the total expected credit losses over the life of the loan was increase to P30,000,000. The discount rate applicable was at 3%. On December 31, 2022, it became clear that the customer was in serious nancial difculties and the directors of Contour believed that there was an objective evidence of impairment. The total expected credit losses over the life of the loan was on this date was at P50,000,000. The discount rate applicable was at 3%. .039" 1. What is the initial amortized cost of the loans on January 1, 2020? 2. 3. How much is the interest income reported in 2020 Statement of comprehensive What is the amount of impairment loss shall Lucifer recognized on January 1, 2020? income? What is the amount of loan receivable is presented in 2020 statement of nancial position? What amount of impairment loss shall Lucifer recognized on December 31, 2021? How much is the interest income reported in 2020 Statement of comprehensive income? What is the amount of loan receivable is presented in 2020 statement of nancial position