Compute for the share premium to be reported on the statement of Financial Position.

Arellano Company is authorized to issue 300,000 of P2 par value ordinary shares. The company has the following transactions: (a) Issued 60,000 shares at P30 per share; received cash. (b) Issued 750 shares, selling at P35 per share, to lawyers for services in connection with the organization of the corporation. The fair value of the legal services was P27,000. (c) Issued 900 shares, valued objectively at P30,000, to the employees instead of paying them cash wages. (d) Issued 37,500 shares in exchange for a building valued at P885,000 and land valued at P240,000. The building was originally acquired by the investor for P750,000 and has P300,000 of accumulated depreciation; land was originally acquired for P90,000.) (e) Received cash for 19,500 shares issued at P38 per share. (f) Issued 12,000 shares at P45 per share; received cash