Soup Incorporated produces milk on its farms located in the Mindanao region. At December 31 2022, their herds of cows are as follows:

1,000 cows (3-year old) all purchased in prior years

500 heifers (1.5 years old when purchased on June 30, 2022)

250 heifers (2 years old) purchased on December 31, 2022.

No animals were born or sold during 2023. The per unit fair value less cost to sell of the animals were as follows:

At December 31, 2022:

1.5 years old - Php 14,500

2 years old - Php 17,500

3 years old - Php 19,000

At December 31, 2023:

1.5 years old - Php 16,000

2 years old - Php 20,000

3 years old - Php 23,500

4 years old - Php 27, 500

Required:

1. What is the carrying amount of the biological assets as of December 31, 2022?

2. What is the amount of gain from changes in fair value less cost to sell due to price change during 2023?

3. What is the amount of gain from changes in fair value less cost to sell due to physical change during 2023?

4. What is the amount of total gain from changes in fair value less cost to sell during 2023?

5. What is the carrying amount of the biological asset as of December 31, 2023 to be presented in the non-current section of the statement in financial position?