19 . The following selected account balances were taken from the balance sheet of Quitting Corp. as of December 31, 2030, immediately before the take over of the trustee:

Trading Securities

P 300,000

Inventories

110,000

Land

150,000

Building

400,000

Additional information:

Trading Securities have present market value of P320,000. These securities have been pledged to secure notes payable of P280,000.

The estimated worth of inventories is P70,000. However, inventories with book value of P50,000 have been pledged to secure notes payable of P60,000. The realizable value of the inventories pledged is estimated to be P40,000.

Land and building are estimated to have a total realizable value of P450,000. This property is pledged to secure the mortgage payable of P250,000.

What is the total amount of net free assets?

Group of answer choices

810,000

240,000

770,000

270,000