Sheryl Dairy produces milk for local ice cream producers. The entity began operations on January 1, 2020 by purchasing milking cows for P 5,000,000. The entity provided the following information at year-end relating to the milking cows:

What amount of net gain on biological asset should be reported in the current year?

Carrying amount - January 1 Change in fair value due to growth and price change Decrease in fair value due to harvest Newborn calf at year-end at fair value Milk harvested during the year but not yet sold 5,000,000 2,000,000 250,000 400,000 850,000