Lasam Company received dividends from its investments in ordinary shares during the current period as follows: 1. A share dividend of 20,000 shares from A Company when the market price of A's shares was P30 per share. 2. A cash dividend of P2,000,000 from B Company in which Lasam owns a 20% interest 3. A cash dividend of P1,500,000 from C Company in which Lasam owns a 10% 4. 10,000 ordinary shares of Company in lieu of cash dividend of P20 per share. The market price of Company's shares was P180. Lasam holds originally 100,000 ordinary shares of D Company. Lasam owns 5% interest in D Company 5. A liquidating dividend of P2,000,000 from E Company. Lasam owns a 5% interest in E Company 6. A dividend in kind of one ordinary share of X Company for every 5 ordinary shares of F Company held. Lasam holds 200.000 F Company shares which have a market price of P50 per share. The market price of X Company's ordinary share is P30 per share What amount of dividend income should Lasam report in its current period income statement? 10. Chu Company acquired a 40% interest in Wawa Company for P1,700,000 on January 1, 2020. The shareholders' equity of Wawa Company on January 1 and December 31, 2020 is presented below: January 1 December 31 Share capital 3,000,000 3,000,000 Revaluation surplus 1,300,000 Retained earnings 1,000,000 1,500,000 On January 1, 2020, all the identifiable assets and liabilities of Wawa Company were recorded at fair value. Wawa Company reported profit before income tax of P1,000,000 and paid dividends of P150,000 to shareholders during the current year. The revaluation surplus is the result of the revaluation of land recognized by Wawa Company on December 31, 2020. Wawa presents OCI net of applicable income tax. Additionally, depreciation is provided by Wawa Company on the diminishing balance method whereas Chu Company uses the straight-line. Had Wawa Company used the straight line, the accumulated depreciation would depreciation would be increased by P200,000. The tax rate is 35%. Chu Company should report its investment in associate on December 31, 2020 at a. P2,560,000 c. P2,290,000 b. P2,420,000 d. P2,238,000