Klaus Marcel Net income P 1,825,000 P 975 ,000 Dividends paid 525,000 262 ,500 What is the consolidated share holders' equity to be reported in the consolidated statement of financial position on December 31, 2016? 4 . On January 1, 2016 , William Corp . paid cash of P 600 ,0 0 0 for all the outstanding shares of Kate Company . The carrying value of the assets and liabilities of Kate on January 2016 follow Accounts Receivable P90,000 Inventory 180 ,000 Plant & Equipment (net of Accumulated Depreciation ) 320,000 Goodwill 100,000 Liabilities 120,000 On January 1 , 2016 Kate inventory had a fair value of P 150 ,0 0 0 and plant & equipment (net) had a fair value of P 380 ,0 0 0 . Cost of arranging the combination are as follows : legal fees for combination , P 30 ,0 0 0 ; finder's fee , P 50 ,0 0 0 ; other direct costs , P 70,000 . Net income of William and Kate for 20 16 amounts to P 18 8 ,0 00 and P 90 ,0 0 0 , respectively William received dividend of P 20 ,0 0 0 from Kate during 20 16 . The PP E has original useful life of 10 years and was already held for 4 years as of date of acquisition On December 31 , 20 1 6 , what is the consolidated net income ? . On January 3, 2016, P Company acquired 70% interest in S Company for P 4,200,000 cash . On this date , the equity of S Company is as follows P . Company S Company Ordinary Share Capita 3, 300,000 1,450,000 Accumulated Profits 5,450,000 2,800,000 There was no issuance of ordinary shares during the year. Non - controlling interest is initially measured at fair value of P 1,675,0 0 0 . Fair value of the following assets of s Company exceeded their book values : Inventories , P 150 ,0 0 0 ; Fixed assets (remaining life 5 years ), P 60 0 , 0 0 0 . All other assets and liabilities are fairly valued . Good will is impaired by P225,0 00 . P Company reported income and declared dividend of P 1, 425 ,500 and P 380 ,250, respectively . S Company has income and dividend declared of P 750 ,0 0 0 and P150,000 , respectively How much is the consolidated equity as of December 31, 2016, Consolidated FS