On January 1, 20x1, Entity A acquires 30% interest in Entity B for P600,000. Entity B reports profit of P200,000 and declares dividends of P50,000 in 20x1. How much is the carrying amount of the investment in associate on December 31, 20x1?
A) P600,000
B) P660,000
C) P645,000
D) P630,000