Hi I need help on what is the answer for the 2 questions in my accounting. Below are the problems and reference and other concerns will be in the comment section. Answers with explanation is highly recommended. I hope that you can help me and surely I will give you a positive feedback.

Case Problem 1: On January 1, 2018 Haphazard Company owns 15,000 ordinary shares representing 15% of the shares outstanding of Luke Corporation. The ordinary shares were acquired on November 12, 2017 at a cost of P1,500,000 and have a fair value of P1,600,000 on December 31, 2017. On January 2, 2018, Haphazard sold half of its investment for P 100 per share incurring brokerage and commission expense of P20,000. Based on the above data, answer the following: Scenario 1: Assume that the above securities are classified as fair value through profit or loss. 1. Unrealized gain (or loss) on December 31, 2017 to be presented in the statement of financial position? SOLUTION: 2. Gain (or loss) on sale on January 2, 2018 to be recognized in the profit or loss. SOLUTION