The accounts below appear in the December 31, 2019 balance of J Company:
Authorized ordinary share capital P5,000,000
Unissued ordinary share capital 2,000,000
Subscribed ordinary share capital 1,000,000
Subscription Receivable 400,000
Share Premium 500,000
Retained Earnings 1,100,000
Treasury ShareCost 100,000
In its December 31, 2019 balance sheet, J company should record a total shareholder’s equity of