Essential Corp received a charter authorizing 120,000 shared of Ordinary share at P15 par value per share. During the first year of opestions, 40,000 shares were sold at P28 per share. P600 shares were issued in payment of a current operating debt of P18,600. In the first year, the net income was P142,000. During the year, dividends of P36,000 were paid to stockholders. At the end of the year, total liabilities were P82,000.

Compute the total equities.

Compute the total shareholders equity