Exercise 2 - Investment property using cost & fair value model. On January 1, 2016, Genos Company owned an investment property which had an original cost of P5, 800,000 and useful life of 40 years. On December 31, 2018, the fair value was P6,000,000 and on December 31, 2019, the fair value was P 5,900,000 Required: 1. Under the fair value model, what is the gain or loss to be presented in the income statement for the year ended December 31, 2019? 2. Under the cost model, what is the expense to be presented in the income statement for the year ended December 31, 2019