Problem 2 At December 31.2017, CPA Co. reported as current assets the following equity securities classified as unquoted equity secutirities Red Co., 1,000 shares, P200 par convertible 10% preference share P450.000 Blue Co., 6,000 ordinary shares 650,000 Yellow Co., 2.000 ordinary shares 550,000 During 2018 CPA Co. disposed of the following securities: a. Jan. 17 Sold 2,500 shares of Blue for P130 per share b. June 1 Sold 500 shares of Yellow, after a 10% bonus issue, for P260 per share c. Oct. 1 Converted 500 shares Red's preference shares into 1,500 shares of Red's P100 par ordinary, when the market price was P160 per share for the ordinary. The following 2018 dividend information pertains to the shares held by CPA Co. d. On February 14, Yellow issued a 10% bonus issue, when the market price of Yellow ordinary was P270 per share. e. On April 6 and October 6, Red paid semi-annual dividends preference share, to shareholders of record on April 2 and October 2 respectively. Red did not pay any dividends on its ordinary shares during 2018. f. Blue paid a P5 per share dividend on its ordinary shares. Fair values per share of the securities as of December 31, 2018 were as follows