45 Use the same information given in MC49. How much should Ken Corporation report as total current liabilities at December 31, 2015? a. P1, 309, 500 b. P1, 317 , 500 C. P1, 261, 500 d. P1, 371, 500 MC50 At the beginning of the year, a corporation had total assets of P4, 000, 000, total liabilities of P2, 000, 000 and total share capital of P800, 000. During the year, the corporation earned profit of P5, 000, 000 and paid cash dividends of P1, 000, 000. At the end of the year, the company had total assets of P8, 700,000 and its total share capital remained at P800,000