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What amount should Friendly record as investment income

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Reference no: EM132726533

Problem - Friendly Company owns 43%% of Amiable's common stock Friendly does not own any preference share in Armiable. Amiable's socks at December 31, 2019 is as follows:

10% cumulative preferred sock P5,000,000

Common mock 8,000,000

Amiable reported meet Income P4,500,000 for the year ended December 1, 2019, There is no dividend declaration for preference shares for the current period. What amount should Friendly record as investment income for the year ended December 31, 2019?

Reference no: EM132726533

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