Entity A acquired the net assets of Entity B by issuing 10,000 ordinary shares with par value of P10 and bonds payable with face amount of P500,000. The bonds are classified as financial liability at amortized cost. At the time of acquisition, the ordinary shares are publicly quoted at P20 per share. On the other hand, the bonds payable classified as financial liability at amortized cost are trading at 110. Entity A paid P10,000 share issuance costs and P20.000 bond issue costs. Entity A also paid P40,000 acquisition related costs and P30,000 indirect costs of business combination. Before the date of acquisition, Entity A and Entity B reported the following data: Entity A Entity B Current assets 1,000,000 500,000 Noncurrent assets 2,000,000 1,000,000 Current liabilities 200,000 400,000 Noncurrent liabilities 300,000 500,000 Ordinary shares 500,000 200,000 Share premium 1,200,000 300,000 Retained earnings 800,000 100,000 At the time of acquisition, the current assets of Entity A have fair value of P1, 200,000 while the noncurrent assets of Entity B have fair value of P1,300,000. On the same date, the current liabilities of Entity B have fair value of P600,000 while the noncurrent liabilities of Entity A have fair value of P500,000. 1. What is the goodwill or gain on bargain purchase arising from business combination? 2. What total amount should be expensed as incurred at the time of business combination? 3. What is Entity A's amount of total assets after the business combination? 4. What is Entity A's amount of total liabilities after the business combination