profriends, inc., a real estate developer

d. P900,000 Items 12 - 14 are based on the following: Profriends, Inc., a real estate developer, is owned by five founding shareholders. On December 1, 2018, the entity declared a property dividend of a "one-bedroom flat" for each shareholder. The property dividend is payable on January 31, 2019. On December 1, 2018, the carrying amount of a one-bedroom flat is P1,000,000 and the fair value is P1,500,000. However, the fair value is P1,800,000 on December 31, 2018 and P1,900,000 on January 31, 2019. 1,500,ooks 12. What is the dividend payable on December 1, 2018? a. P5,000,000 OT 27,500,000 OP9,000,000 d. PO 13. What is the dividend payable on December 31, 2018? a. P5,000,000 b. P7,500,000 P9,000,000 d. PO 7500B a / - 9,1 14. What amount of gain is included in profit or loss as a result of the settlement of the property dividend on January 31, 2019? a. P2,500,000 b. P4,000,000 c. P2,000,000 d. PO 7.500