An entity provided the following trial balance on December 31, 2021: Cash overdraft (200,000) Property, plant and equipment, net 1,900,000 Accounts receivable net 700,000 Accounts payable 700,000 Inventory 1,200,000 Share capital 3,000,000 Prepaid expenses 200,000 Share premium 500,000 Land held for resale 2,000,000 Retained earnings 1,600,000 Checks amounting to P600,000 were written to vendors and recorded on December 31, 2021 resulting in cash overdraft of P200,000. The checks were mailed on January 15, 2022. Land held for resale was sold for cash on January 31, 2022. 1. What total amount should be reported as current assets? 2. What total amount should be reported as current liabilities?