Two real estate companies set up a separate vehicle for the purpose of acquiring and operating condominium units. One of the companies, S$ Company paid P2,016,000 for a 30%% interest in AA Corporation's (a separate vehicle) outstanding voting stock on January 1, 2021. Such acquisition gave $5 Corporation to joint control with another company over AA Corporation. The book values and fair values of AA's assets and Liabilities on January 1, along with amortization data, are as follows: AA Co. AA Co. Book value Fair value P Accounts receivable - me... . . . . . 840.000 840.000 Inventories (sold in 2021)..NINETEEN.81818 1,200,000 1,440.000 Other current que!.. . . . . . . 240.000 240.000 1.080.000 2.040.000 Buildings - net (10 year remaining Me].FREE!1898484) 1,800.000 2.400.000 Equipment - net (7 year remaining fest...... 1.440.000 800.000 PZ.060.000 960 000 P 960.000 Other current liobaliet mahabharatfromratherbrunoturnout 240.000 240.000 Bonds payable (due January 1, 2026).. .. .I..:4: 1,200.000 1,320,000 Common stock, p10 parentingin 3.600.000 1080.000 Total Liabilities and Stockholden' EqullyCALL PZ O80 000 AA Corporation reported net income of P1,440,000 for 2021 and paid dividends of P720,000, Required: 1. Prepare the schedule of determination and allocation of excess 2. Prepare entries in the books of the joint venture in 2021 in relation to its Investment in joint venture, assuming that the joint venture does not prepare consolidated financial statements using equity method 3. In relation to No. 2, determine: a, Investment in Joint Venture-S$ Company b. Investment income (equity in net earnings) for 2021