At its meeting on December 1, 2021, the board of directors of ABC Co. declares a cash dividend of P2 per share, payable on February 1, 2022 to shareholders of record on December 25, 2021. The following are the ordinary shares outstanding on different dates: December 1, 2021 - 40,000 shares December 25, 2021 - 50,000 shares December 31, 2021 - 55,000 shares February 1, 2022 - 60,000 shares On December 31, 2021, what is the amount of dividend payable that should be recognized in the statement of financial position? a. P80,000 b. P100,000 c. P110,000 d. P120,000

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