On April 1, 2022, MAY TINAMA NA BA (MTNB) Corp. acquired 80% of the outstanding stocks of WALA PA Corp for P2,500,000. WALA PA Corp.'s stockholders' equity at the end of 2022 were as follows: Common stock, P80 par P2,000,000, Share premium P500,000, and Retained earnings P750,000 The fair value of the non-controlling interest is P685,000 All the assets of WALA PA were fairly valued except for its inventories which are overvalued by P90,000, Land which was undervalued by P50,000, and Patent which is undervalued by P125,000. The said patent has a remaining useful life of five years. Both companies use the straight-line method for depreciation and amortization Shareholders' equity of MTNB Corp. on December 31, 2022 is composed of: Common stock, P50 par P3,500,000, Share premium P750,000, and Retained Earnings of P2,460,000 Goodwill, if any, should be decreased by P22,500 at year-end No additional issuance of capital stocks occurred. For the two years ended, December 31, 2022 and 2023, MTNB Corp and WALA PA Corp. reported the following: MTNB Corp WALA PA Corp 2022 2023 2022 2023 Net income from own operations 525,000 550,000 485,000 (from date of acquisition) 520,000 Dividends declared at year-end 50,000 35,000 35,000 50,000 On December 31, 2022, compute for the following: 11. Non-controlling interest in net assets of subsidiary Ans: 781,150 12. Amount of consolidated shareholders' equity Ans: 7,893,750 THE CORRECT ANSWER IS GIVEN - SHOW THE SOLUTION HOW TO GET THE ANSWERS!!