1. On January 2, 2016, ABC Corporation bought 15% of DEF Corporation's capital stock for P60, 000 and classified it as fair value through other comprehensive income securities. DEF's profits for the years ended December 31, 2016 and 2017 were P20, 000 and P100,000, respectively. During 2017, DEF declared a dividend of P140, 000. No dividends were declared in 2016. On December 31, 2017, the fair value of the DEF stock owned by ABC had increased to 90, 000.

How much should ABC show on its 2017 income statement as income from this investment?

• Answer not given
• P21,000
• P15,000
• P3,150
• P51,000