(Acquisition of Net Ament Through Isuance of Stocks] The following are the statement of financial position of PP Corporation and 10 Corporation of January 2, 20x1 just before they entered into a business combination: PP Corporation 13 Corporation Book Value Fair Volun Back What Ascris Cash 1310,080 135 008 P35,080 Accounts receivable 75,008 75,000 707080 Merchandise inventory 300.000 340.000 71,080 Property and equipment 400 000 410,000 100 008 174,080 Accumulated depreciation (100,090) (25.030) P2RO.OOO Liabilities and Stockholders' Equity Accounts payable P135.000 PIX5.000 P70.000 P701000 Bonds payable 200 008 275,000 30 008 42.080 Ordinary shares, P10 par value 210.008 Ordinary shares, P20 par value Share premium 50.000 60 000 Total Liabilities and Stockholders" Bagaly PP Corporation acquired the net assets of 1) Corporation by paying cash of P10.900 and towing 2.500 shares of its PJO par value ordinary there. Additional cash payments (Acquisition - related costa] made by PP Corporation in Proleeland lots is effect the business combination such as Lepal fees, budt fors and becker fors P105,080 knock Itjuanon coil such i'm printing of mock certificates, And SEC rephoration Ice 75.608 PP Corporation sho agreed to pay an additional P109,909 on January 2, 20KA, If the average Income for the 2-year period of 20:2 and 20103 exceedh 130,800 per year. The expected value is cutimated a P30,090 (Contingent Consideration liability] based on the 50% probability of achieving the target average come