On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per share.
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On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per share. Brokerage fees amounted to P120,000. A P5 dividend per share of Byzantine, Inc. shares had been declared on December 15, 2019, to be paid on March 31, 2020 to shareholders of record on January 31, 2020. The shares are designated as FVTOCI. On December 31, 2020 the investment has a fair value of P4,200,000. How much should be recognized in the 2020 other comprehensive income related to these securities?
Group of answer choicesa. P400,000
b. P280,000
c. P80,000
d. P200,000
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