1. How much is the consolidated total assets? 2. What is the breakdown of the consolidated total Equity?

Use the following information for the next two questions: Strings Corp. acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Strings Co. Wind Co. Investment in subsidiary (at cost) 430,000 Other assets 1,570,000 750,000 Assets 2,000,000 750,000 Liabilities 750,000 400,000 Ordinary share capital 1,000,000 310,000 Retained earnings 250,000 40,000 Liabilities and stockholders' equity 2,000,000 750,000 The fair value of Wind's assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method