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What amount should be reported as share in profit

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Question - Lisa Company owned 100% of another entity's preference shares and 40% of ordinary shares. The investee's share capital outstanding of December 31, 2019 included P5,000,000 of 10% cumulative preference shares and P10,000,000 of ordinary shares. The investee reported net income of P6,000,000 for 2019. No dividend was declared for both preference and ordinary share 2019. What amount should be reported as Share in Profit of Associate 2013?

Reference no: EM132935066

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