On January 1, 2022, ABC Company paid P100,000 for 8,000 ordinary shares of XYZ Company. The ownership in XYZ Company is 10%. ABC Company does not have significant influence over XYZ Company. XYZ reported net income of P52,000 for the year ended December 31, 2022. The fair value of the XYZ shares on that date was P45 per share. What amount will be reported in the statement of financial position of ABC Company for the investment in XYZ on December 31, 2022?