On January 2, 2018, HEART Corporation purchased 30,000 shares of MIND Company out of the 100,000 shares outstanding, giving HEART a significant influence over MIND. The book value of the net assets of MIND on the date of acquisition is P10,000,000. HEART bought the shares for P3,381,000, which is more than the share of HEART in the net assets of MIND, apparently because of: A land with a fair market value which is P1,500,000 more than its carrying value; A building with an estimated useful life of 5 years as of the acquisition date, and a fair market value which is P750,000 less than its carrying value; Inventory with fair market value, which is P120,000 more than its carrying value; And goodwill. The net income of MIND COMPANY for 2018 is P2,840,000; and P3,150,000 for 2019. The other comprehensive income for 2018 and 2019 are P400,000 and P490,000, respectively. MIND declared dividends on November 30, 2018, and August 24, 2019, for P8.50/share and P9.20/share, respectively