On January 1, 2021, Jariol Company received a grant of P1,500,000 from the government to subsidize tuition fees for a period of 5 years. On January 1, 2023, the entity violated certain conditions attached to the grant, and therefore had to repay fully such grant to the government.

1.) What is the grant income for 2021?

2.) What amount should be recognized as loss resulting from the repayment of the grant in 2023?