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Use the following information for the next three (3) questions: On January 2, 2024, Miniso Company sold equipment with a carrying amount of P500,ooo in exchange for P10o,ooo cash and a P600,000 non-interest-bearing collectible in three equal annual installment every December 31. There was not established exchange price for the equipment. The prevailing rate of interest for a note of this type at January 2, 2024 was 10%. The present value of 1 at 10% for three periods is 0.751315. present value of annuity of 10% for 3 periods is 2.486852. 22) How much should Miniso Company report as interest income in its 2024 profit or loss? A. 34,711 B. 45,079 C. 49.737 D. 60,000 23) What is the amortized cost of the note receivable on December 31, 2024? A. 347,107 B. 400,000 C. 295,867 D. 497,370 24) How much should Miniso Company report as gain (loss) on sale of equipment in its 2024 profit or loss A. 2,630 loss B. 51,890 gain C. 97,370 gain D. 100,000 loss 25) On January 1, 2023, Vulcanotic Company sold a building for P5,000,ooo to Explosion company. Explosion Company paid P500,ooo down and signed a noninterest bearing note for the balance which is payable in 3 equal annual installments every December 31 of each year. The carrying value of the building is P4,200,000. Assume prevailing interest rate for a note of this type is 12%. The present value of an ordinary annuity of 1 for three periods is 2.4018. How much is the interest income for the year 2024? A. 304,230 B. 492,324 C. 432,324 D. 540,000