Braum Dairy produces milk to sell to local and national ice cream producers. Braum Dairy began operations on January 1, 2015 by purchasing 650 milk cows for P780,000. The company controller had the following information available at year end relating to the cows:

Milking cows

Carrying value, January1, 2015 P780,000

Change in fair value due to growth and price changes 242,000

Decrease in fair value due to harvest (28,000)

Milk harvested during 2015 but not yet sold P36,200

1. On Braum Dairy's income statement for the year ending December 31, 2015, what amount of unrealized gain on biological assets will be reported?

2. On Braum Dairy's income statement for the year ending December 31, 2015, what amount of unrealized gain on harvest milk will be reported?