please answer question no. 26

,0 Type here to search For questions 26 and 27 On January 1. 2017, Oval Company purchased 10% of the outstanding ordinary shares of Tin Corporation for PBOODOO' when the fair value of Tin's net assets wasP4,000,000. Oval does not have the ability to exercise signicant inuence over the operating and nancial policies of Tin. The following data concerning Tin are available for 2018: Dec 31,2017 Dec 31, 2018 Net Income P1,200,000 P1,000.000 Dividends declared and paid 0 P2.500.000 26' In its income statement for the year ended December 31, 2018. how much should Oval report from this investment? 27. What is the carrying value of Oval's investment in Tin as of December 31, 2018? El ENG 4:59 AM 'l 2,04,2020