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What amount should kindness report as investment

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Question - On January 2, 2019, Kindness Company purchased 10% of Compassionate Company's outstanding ordinary shares for P20,000,000. Kindness is the largest single shareholder in Compassionate and Kindness's officers are majority of Compassionate's board of directors. Compassionate reported net income of P10,000,000 and paid dividend of P4,000,000. In its December 31, 2019 balance sheet, what amount should Kindness report as investment in Compassionate Company?

Reference no: EM132576316

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