PROBLEM B Tapat Ako Company's accounting records showed the following transactions in 2020: On January 1, 2020 Tapat acquires 2% of Zuna Company with 1,000 shares, 25% of Eternal Company with 5,000 shares and 30% of XRP Company with 15,000 shares. During the year, Tapat Ako received cash dividends of P400,000 from Zupa, P600,000 from Eternal and P1,000,000 from XRP whose 2020 net income is P5,000,000, P10 200,000 and P15,000,000 respectively. On April 1, 2020 a franchise was purchased from the Franchisor Company for P2,630,000. The contract which runs for 20 years provides that 5% of revenue from the franchise must be paid to Franchisor. Revenue from the franchise for 2020 was P7,500,000. A trademark was purchased from Cate Company for P610,000 on July 1, 2017. Expenditures for