Parent Company acquired 18,000 shares of Company's ordinary share on January 1, 2021, for payment of P3,000,000 when Company's stockholders' equity section appeared as follows: Ordinary Share, P100...

Extracted text: Parent Company acquired 18,000 shares of Company's ordinary share on January 1, 2021, for payment of P3,000,000 when Company's stockholders' equity section appeared as follows: Ordinary Share, P100 par, 25,000 shares issued P2,500,000 Share Premium 700,000 Retained Earnings 800,000 Treasury Shares 1,000 shares Assets and liabilities of Company has book values approximately equal to their fair values except for its inventory with a book value of P100,000 and a fair value of P130,000 and land with a book value of P400,000 and a fair value of P420,000 . Assuming the use of full- goodwill approach, compute for the goodwill.