1. An entity reported the following shareholders' equity at the beginning of the current year: Share capital, P10 par 5,000,000 Share premium 2,000,000 Retained earnings 1,500,000 During the current year, the entity had the following share transactions: . Acquired 20,000 treasury shares for P 1,000,000 Sold 15,000 treasury shares at P60 per share. Sold the remaining treasury shares at P45 per share. . What amount should be reported as share premium at year-end