On January 1, 2019, Forensic Company acquired a 10% interest in an investee for P3,000,000. The investment was accounted for using the cost method. On January 1, 2020, the entity acquired a further 15% interest in the investee for P6,750,000. On such date, the carrying amount of the net assets of the investee was P36,000,000 and the fair value of the 10% interest was P4,500,000. The fair value of the net assets of the investee is equal to carrying amount except for an equipment whose fair value exceeds carrying amount by P4,000,000. The equipment has a remaining life of 5 years. The investee reported net income of P8,000,000 for 2020 and paid dividend of P5,000,000 on December 31, 2020. What amount of gain on remeasurement to equity should be recognized for 2020? What is the goodwill arising from the acquisition on January 1, 2020? What is the carrying amount of the investment in associate on December 31, 2020? On January 1, 2019, Small Company purchased 25% of Big Company. No "excess" resulted from the purchase. Small Company appropriately carried this investment at equity and the carrying amount of the investment was P1,900,000 on December 31, 2019. Big Company reported net income of P1,200,000 for the current year and paid cash dividend of P480,000 on December 31, 2019. What amount did Small Company pay for the 25% interest in Big Company? At the beginning of current year, Magic Company purchased 40% of the outstanding ordinary shares of an investee paying P2,560,000 when the carrying amount of the net assets of the investee equaled P5,000,000. The difference was attributed to equipment which had a carrying amount of P1,200,000 and a fair market value of P2,000,000, and to building with a carrying amount of P1,000,000 and a fair market value of P1,600,000. The remaining useful life of the equipment and building was 4 years and 12 years, respectively. During the current year, the investee reported net income of P1,600,000 and paid dividends of P1,000,000. What is the carrying amount of the investment in associate at year-end?