On July 1 1, 2023, ACYFAR1 paid Php 9,378,546 for 83,301 outstanding shares (40%) of another entity. At that date, the net assets of the investee totaled Php 4,114,910 and the fair values of all identifiable assets and liabilities were equal to their carrying amount. The investee reported net income of Php 771,051, of which Php 380,321 was for the 6 months ended December 31, 2023. The investee paid cash dividends of Php 207,450 on September 30, 2023. What amount of income should be reported from the investment in associate