On January 2, 2019, Puso Corporation purchased 30,000 shares of Isip Inc. out of the 100,000 shares outstanding, giving Puso a significant influence over Isip. The book value of the net assets of Isip on the date of acquisition is P10,000,000. Puso bought the shares for P3,381,000, which is more than the share of Puso in the net assets of Isip, 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 Isip Inc. for 2019 is P2,840,000; and P3,150,000 for 2020. The other comprehensive income for 2019 and 2020 are P400,000 and P490,000, respectively. Isip declared dividends on November 30, 2019, and August 24, 2020, for P8.50/share and P9.20/share, respectively. Requirements: 1. What is the initial cost of the investment? 2. How much is the total goodwill? 3. How much income(loss) from the investment must be reported in the income statement for 2019 and 2020? 4. How much income(loss) from the investment must be reported as part of other comprehensive income for 2019 and 2020? 5. What is the carrying value of the investment as of December 31, 2019 and 2020