Assuming Arden Company acquired 80% of the outstanding shares of Wonder Company for P820,000 and non-controlling interest is measured at the proportionate share of Wonder Company’s identifiable net assets, how much is the consolidated stockholder’s equity on the date of acquisition?
Extracted text: On January 2, 2020, the Statement of Financial Position of Arden Company and Wonder Company immediately before the combination are: Arden Co. Wonder Co. Cash 2,700,000 1,800,000 4,500,000 90,000 Inventories Property and equipment (net) 180,000 630,000 Total Assets 9,000,000 900,000 Current Liabilities 540,000 900,000 2,700,000 90,000 90,000 Ordinary Shares, P100 par Share premium Retained Earnings Total Liabilities and Stockholders' Equity 180,000 4,860,000 9,000,000 540,000 900,000 The fair value of Wonder Company's equipment is P918,000