Company acquires 35% of the 100,000 outstanding shares of Happy Company for P1,200,000.  Happy Company’s net identifiable assets are fairly valued on this date.  In 2021, Happy Company reports profit of P1,500,000 and declares and pays cash dividends of P600,000.  For the year ended December 31, 2021, how much should Sad Company report as share in the associate’s profit and investment in associate, respectively?     175,000 ; 1,165,000 210,000 ; 1,200,000 350,000 ; 1,340,000 131,200 ; 1,121,250

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.