Luxemburg Company purchased the following investments during 2021: Initial Cost Transaction cost Fair value Year-end 2021 Security A P180,000 P5,000 P170,000 Security B 150,000 2,500 120,500 On July 31, 2022, the entity sold all of the shares of Security B for P125,800. On December 31, 2022, the shares of Security A had a fair value of P205,000. No other activity occurred during 2022 concerning the portfolio. Retained earnings before any adjustments on equity securities on December 31, 2022, is P975,000. Assuming nontrading securities, how much is the Retained earnings on December 31, 2022
Luxemburg Company purchased the following investments during 2021:
Initial Cost Transaction cost Fair value Year-end 2021
Security A P180,000 P5,000 P170,000
Security B 150,000 2,500 120,500
On July 31, 2022, the entity sold all of the shares of Security B for P125,800.
On December 31, 2022, the shares of Security A had a fair value of P205,000.
No other activity occurred during 2022 concerning the portfolio.
Assuming nontrading securities, how much is the Retained earnings on December 31, 2022?
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