V Company purchases approximately 500,000 bushels of oats each month. On December 1, 2019, the entity purchased an option to purchase 500,000 bushels of oats on March 1, 2020 at a price of P100 per bushel which is the market price of bushel on December 1, 2019. The entity had to pay P100,000 to purchase the call option which it designated as a cash flow hedge against price increases for the March 1, 2020 purchase of oats.

On December 31, 2019, the price of oats is P95 per bushel. Because there is still time for the price of oats to potentially rise above P100 per bushel before the option expires, the option has a value of P40,000 on December 31, 201o. On March 1, 2020, the price of oats is P104 per bushel.

What is the gain on call that that should be reported in the statement of comprehensive income for 2020?