By January 1, 2020, Indigo Inc. has P3,500,000 Ordinary Share Capital ledger balance, P1,300,000 Share Premium Ordinary, and Retained Earnings of P3,300,000. During 2020, the company acquired its own shares for P275,000 and recorded net loss of P540,000. How much is the contributed capital on December 31, 2020?

By January 1, 2020, Indigo Inc. has P3,500,000 Ordinary Share Capital ledger balance, P1,300,000 Share Premium - Ordinary, and Retained Earnings of P3,300,000. During 2020, the company acquired its own shares for P275,000 and recorded net loss of P540,000. How much is the contributed capital on December 31, 2020? O P4,800,000 O P3,500,000 O P4,525,000 O P7,285,000