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Determine the net amount to be included in income statement

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Question - Sunflower provided the following transactions:

Jan. 01, 2020 Sunflower acquired 10,000 shares at P 10 per share of Rose Inc. The purpose is to sell the shares in the near future. Sunflower paid the broker P5,OOO in the acquisition.

June 30, 2020 Sunflower sold 5,000 shares at 20.00 per share and incurred expenses Of P5,000 on the sale.

Dec. 31, 2020 Rose's shares are quoted at 8.00 per share.

Required - Determine the net amount to be included in the income statement for the year ended December 31, 2020 related to the above?

Reference no: EM132981145

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