20. Chapel Hil Company had common stock of P350,000 and retained earnings of P490,000. Blue Town Inc. had common stock of P700,000 and retained earnings of P980,000. On January 1, 20x4, Blue Town issued 34,000 shares of common stock with a P12 par value and a for as an acquisition. Immediately after the combination, what were the consolidated net b. assets 0. P2,870,000 b. P2,520,000 CP2,030,000 d. e. P1,680,000 P1,190,000