On January 1, 2017, LAM Corporation purchased 75% of the common stock of JYJ Company. Separate balance sheet data for the companies at the combination date are given below: Cash Trade Receivable Merchandise Inventory Land Plant assets Accumulated Depreciation Investment in JYJ Total Assets LAM P 84,000 504,000 462,000 273,000 2,450,000 (840,000) 1,372,000 4,305,000 JYJ P 721,000 91,000 133,000 112,000 1,050,000 (210,000) P 1,897,000 Accounts Payable Capital Stock Retained Earnings Total Equities P 721,000 2,800,000 784,000 4,305,000 P 497,000 1,050,000 350,000 P 1,897,000 On the date of combination the book values of JYJ's net assets was equal to the fair value of the net assets except for JYJ's inventory which has a fair value of P210,000 On the date of acquisition in the consolidated balance sheet, how much is the total assets