On January 2, 2020, Black Company purchased 120,000 ordinary shares of White Company for P1,700,000 representing 30% of White's outstanding ordinary shares. Black incurred a direct cost of P10,000 related to the purchase of shares. As a result of 30% ownership of White, Black has the ability to exercise significant influence over White's financial and operating policies.

On March 1, June 1, September 1 and December 1 of 2020, White paid quarterly dividend of P0.50 per ordinary share. The profit of White for the 2020 was P1,200,000. At December 31, 2020, each of the ordinary share of White was selling at P16.

1. How much is the amount of Investment to be recorded by Black on January 2, 2020?
2. How much is share of Black in the net income of White in 2020?
3. How much is the total dividend revenue to be recognized by Black in 2020?
4. How much is the carrying value of the investment at December 31, 2020?
5. Assuming the purchase was made in September 1, 2020, how much is the carrying value of the investment at December 31, 2020?Required to answer. Single line text.