Cone and Cream Corporation was organized on January 1, 2021 with authorized capital of P2,000,000 consisting of 100,000 ordinary shares, P20 par value. Subsequently, incorporators subscribe for 25,000 shares at P24. How much must be paid up upon subscription to comply with the requirement of the Securities and Exchange Commission? P600,000 P125,000 P500,000 O P150,000