TESTI PROBLEM SOLVING : Accounting for investment in Associate under the Equity Method: 1. On January 1, 2020, an investor purchased 50.000 shares of the 200,000 outstanding ordinary shares of another entity at P200 per share 2. The investee reported a net income of P20,000,000 for 2020 3. The investee declared and paid a cash dividend of 5,000,000 on ordinary shares on December 31, 2020 4 Investee reported a net loss of P7.000.000 for 2020 5 Received a 25% share dividend from the investee on December 31, 2020 ENO