PROBLEM 9: On January 1, 2018, Bubbles Co. purchased nontrading equity securities which are irrevocably designated at FVOCI: Purchase price Transaction cost Market value, December 31, 2018 Anton Co. shares P1,000,000 P100,000 P1,500,000 Oligario Co. shares 2,000,000 200,000 2,400,000 Alakdan Co. shares 4,000,000 400,000 4,700,000 On July 1, 2019, Bubbles Co. sold Alakdan Co. shares for P5,200,000. 11. What amount of unrealized gain should be reported in the statement of comprehensive income for 2018? A. O B. 700,000 C. 900,000 D. 1,600,000 12. What amount should be credited to retained earnings as a result of the disposal of Alakdan Co. shares? A. O B. 500,000 C. 800,000 D. 1,200,000