On September 1, Wray Company received a P500,000 cash dividend from Seco Company in which Wray Company Wray Company provided the cent year: On September 1, Wray Company received a P500,000 co dividend from Seco Company in which Wray Compa owns a 30% interest. On October 1, Wray Company received a P60.000 liquidating dividend from King Company. Wray Company owns a 5% interest in King. Wray Company owns a 10% interest in Bow Company which declared and paid P2,000,000 cash dividend on

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