On January 1, 2021, Jimin Co. acquired 30,000 ordinary shares out of the 100,000 outstanding shares of HYBE incorp. for P5,000,000. HYBE's asset and liabilities approximate their fair values except for inventories with carrying amount of P800,000 and fair value of P900,000 and machinery with carrying amount of P2,500,000 and fair value of P2,200,000. The remaining useful life of the machinery is 5 years. HYBE's net asset has a book value of P10,000,000. On December 31, 2021, HYBE reported net income of P2,000,000 and declared paid dividends of P800,000. On December 31, 2022, HYBE reported an income of P4,500,000 and declared and paid dividends of P1,600,000. How much is the net share in the profit or loss of the associate (investment income) in 2022 1,342,000 1,350,000 1,368,000 1,380,000 not in the choice
On January 1, 2021, Jimin Co. acquired 30,000 ordinary shares out of the 100,000 outstanding shares of HYBE incorp. for P5,000,000. HYBE's asset and liabilities approximate their fair values except for inventories with carrying amount of P800,000 and fair value of P900,000 and machinery with carrying amount of P2,500,000 and fair value of P2,200,000. The remaining useful life of the machinery is 5 years. HYBE's net asset has a book value of P10,000,000. On December 31, 2021, HYBE reported net income of P2,000,000 and declared paid dividends of P800,000. On December 31, 2022, HYBE reported an income of P4,500,000 and declared and paid dividends of P1,600,000.
How much is the net share in the profit or loss of the associate (investment income) in 2022
1,342,000
1,350,000
1,368,000
1,380,000
not in the choice
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