100% of the equity share capital of the R Co. was acquired by S Co. on July 30, 2016, S co. issued 500,000 new P1 ordinary shares which had a fair value of P8 each at the acquisition date. In addition, the acquisition resulted in S incurring fees payable to external advisers of P200,000 and share issue costs of P180,000. In accordance with IFRS 3, Business Combination, goodwill at the acquisition date is measured by subtracting the identifiable assets acquired and the liabilities assumed from