Question: Mathilda Corp has a 90% interest in Gambit Co. while the latter has an 80% interest in Chan Corp. For the year ended December 31,2019.

Mathilda Corp has a 90% interest in Gambit Co. while the latter has an 80% interest in Chan Corp. For the year ended December 31,2019. The net income from own operations of these three companies were: Mathilda- Php1M, Gambit-Php500K, and Chan-Php 250K. What is the amount of minority interest in net income for 2019.

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