LGM Motors acquired 80% of NS Service Center outstanding shares on January 1, 2022 by paying cash. The consolidated statement of financial position showed the following balances at the date of acquisition. Consolidated Balances Amount Total Assets 15,670,000 Total Liabilities 4,575,000 Total Shareholder's Equity ? The book value of the net assets of NS Services Center is P4,500,000. The assets of NS Service Center are fairly valued except for the following: Patent on the product that is deemed worthless, P50,000. Goodwill of P150,000. Unrecognized identifiable R&D of P75,000. The fair value of the non-controlling interest is 705,000 and the book value of LGM's equity balance is P9,500,000 On December 31, 2022 the following information were provided by NS Services Center: Net income of 400,000 was recognized. Patents remaining useful life is 4 years. Pre-existing goodwill presented above was impaired with a current value of 120,000. Dividends were declared amounting to P100,000. LGM Motors recognized net income amounting to P650,000 on December 31, 2022. 4. How much is the consideration transferred? a. 2,780,000 b. 2.765,000 c. 2,705,000 d. 2.950,000 5. How much is the goodwill or gain on bargain purchase? a. 890,000 goodwill b. 890,000 gain on bargain purchase C. 720,000 goodwill d. 720,000 gain on bargain purchase 6. How much is the Consolidated Shareholder's Equity on December 31, 2022? a. 12,085,000 b. 12,105,000 c. 12, 107,500 d. 12,087,500 7. How much is the Consolidated Shareholder's Equity on December 31, 2022? a. 12,085,000 b. 12,105,000 c. 12,107,500 d. 12,087,500