Partners Percy, May and Anne have decided to liquidate their partnerships. The partnerships Statement of Financial Position reveals the following: Assets Liabilities and Capital P 250,000 P 300,000...

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Extracted text: Partners Percy, May and Anne have decided to liquidate their partnerships. The partnerships Statement of Financial Position reveals the following: Assets Liabilities and Capital P 250,000 P 300,000 900,000 1,200,000 Cash Liabilities Noncash Assets Percy, capital (40%) May, capital (40%) Anne, capital (20%) Total Liabilities & Capital P 2,750,000 2,500,000 350,000 Total Assets P 2,750,000 All partners are personally solvent. Anne received P490,000 in cash in full settlement for her share in the partnership. What was the selling price for the other assets?