In January 2021, Mighty Mining Corporation purchased a mineral mine for P4,200,000 with removable ore estimated by geological surveys at 2,500, tons. The property has an estimated value of P400,000 after the ore has been extracted. Mighty incurred P1,150,000 of development costs preparin the property for the extraction of ore. During 2021, 340,000 tons were removed and 300,000 tons were sold. For the year ended December 31, 202 Mighty should include what amount of depletion in its cost of goods sold? OP673,200 OP516,800 P456,000 P594,000 Question 44 2 Mighty Company's 12/31/21 statement of financial position reports assets of P5,000,000 and liabilities of P2,000,000. All of Mighty's assets' book values approximate their fair value, except for land, which has a fair value that is P300,000 greater than its book value. On 12/31/21, Summit Corporation paid P5,400,000 to acquire Mighty. What amount of goodwill should Summit record as a result of this purchase? O P2,400,000 P2,100,000 P400,000 PO