Maria Company acquired 25,000 ordinary shares of Sarah Company at P 90 per share, on April 1, 2019. At the time of purchased Sarah had 100,000 shares outstanding. For the year ended December 31,2019 Sarah reported net income of P1,200,000. Sarah paid dividend of P30,000 on June 1 and P 30,000 on December 31,2019. During 2020 Sarah reported net income pf P1,000,000 and paid dividends of P 1,000,000 to its shareholders. On January 1, 2021, Maria sold 10,000 ordinary shares of Sarah for P100 per share. For the year ended December 31,2021, the reported net profit of Sarah was P 1,250,000 and dividends of P 30,000 were paid to Maria. The martket value of Sarah shares remained unchanged during the year 2021. The gain of Maria Company on the sale of 10,000 ordinary sharess of Sarah was
Maria Company acquired 25,000 ordinary shares of Sarah Company at P 90 per share, on April 1, 2019. At the time of purchased Sarah had 100,000 shares outstanding. For the year ended December 31,2019 Sarah reported net income of P1,200,000. Sarah paid dividend of P30,000 on June 1 and P 30,000 on December 31,2019. During 2020 Sarah reported net income pf P1,000,000 and paid dividends of P 1,000,000 to its shareholders. On January 1, 2021, Maria sold 10,000 ordinary shares of Sarah for P100 per share. For the year ended December 31,2021, the reported net profit of Sarah was P 1,250,000 and dividends of P 30,000 were paid to Maria. The martket value of Sarah shares remained unchanged during the year 2021. The gain of Maria Company on the sale of 10,000 ordinary sharess of Sarah was
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