18. Christelle company has incurred heavy losses since its inception. At the recommendation of the chief executive officer, the board of directors voted to implement a quasi-reorganization, subject to the approval of shareholders. Immediately prior to the quasi-reorganization, the entity reported the following shareholders equity: Share capital, P100 par, 500,000 shares 50,000,000 Share premium 5,000,000 Retained earnings (deficit) (8,000,000) The shareholders approved the quasi-reorganization to be accomplished by reduction in inventory P2,000,000, reduction in property, plant, and equipment P4,000,000, write-off of goodwill 1,000,000 and appropriate adjustment to the capital structure against share premium first and any remaining deficit against the share capital account. What is the reduction in the share capita account to implement the quasi-reorganization? a. 10,000,000 b. 15,000,000 c. 20,000,000 d. 3,000,000