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Pearl Corporation acquired 15% of Rich Company's 300,000 voting shares on November 2, 2019 for P2,250,000. During 2019. Rich Company earned P1,200,000 and paid dividends
Pearl Corporation acquired 15% of Rich Company's 300,000 voting shares on November 2, 2019 for P2,250,000. During 2019. Rich Company earned P1,200,000 and paid dividends of P1,400,000. On December 31, 2019 Light Company's shares are selling at P53 per share. If at initial recognition, the shares are classified as trading securities, what total amount of income (realized and unrealized) should be included in the December 31, 2019 income statement
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