On when the carrying amount of the net assets of

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28. On September 30, 2014, when the carrying amount of the net assets of segment C was P15,000,000, Marley Company signed a binding contract to sell segment C for P12,500,000. The sale is expected to be completed by January 31, 2015. In addition, prior to January 31, 2015, the sale contract obliges Marley Company to terminate certain employees of segment C incurring termination cost of P 1,000,000 to be paid on June 30, 2015. The company continued to operate segment C throughout 2014. Revenue of segment C throughout 2014 was P10,000,000, operating cost was P4,000,000. How much income should be reported as income from ordinary activities of the discontinued segment for 2014, before tax?
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