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: Carrying amount - January 1 5,000,000 Change in fair value due to growth and price change 2,000,000 Decrease in fair value due to harvest 250,000 Newborn calf at year-end at fair value 400,000 Milk harvested during the year but not yet sold 850,000 What amount of net gain on biological asset should be reported in the current year