On January 1, 2021, YUKI INC., a small and medium enterprise (SME), invested P300,000 cash in a joint venture for 30% interest. Transaction costs of 10% of the purchase price were incurred by YUKI. On December 31, 2021, the joint venture reported net income of P500,000 and declared and paid cash dividends of P100,000. Also on that date, the fair value of the investment in joint venture is P400,000 and the estimated cost to sell is 10% of the fair value. The value in use of the investment is estimated at P380,000.