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On March 15, 2021, MERCURY CORP. bought 10% of the 300,000 outstanding shares of DRUG...

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On March 15, 2021, MERCURY CORP. bought 10% of the 300,000 outstanding shares of DRUG CORP. for P14.40 per snare. It was known to MERCURY that DRUG declared a cash dividend per share amounting to P2 40 per shere at the oeginning of the current month to be distributed on March 31, 2021, the date of record of which is on March 20,2021 . The market price of MERCURY snares on December 31 , 2021 is P20 and cost to sell of the shares is P1.50. REQUIREMENTS: Assuming the shares are held for tracing, what is the balance of investment in equity securities on December 31,2021 and the net amount to be presented in proft or loss in 2021

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