On January 1, 2019, 80% of the outstanding stocks of Anak Company was purchased by Tatay Company for P2,880,000. At that time, the book value of Anak Companys net assets equaled to P2,800,000. The excess is attributable to equipment with a 8-year life.

The following trial balances of Tatay Company and Anak Company were prepared on December 31, 2019:

	Tatay Company		Anak Company
	Debit	Credit	Debit	Credit
Cash	P 810,000		P 170,000
Accounts Receivable	425,000		445,000
Inventory	600,000		275,000
Property, Plant, and Equipment, net	4,300,000		2,200,000
Investment in Anak Company	2,880,000		-
Accounts Payable		P 57,000		P 100,000
Common Stock, P10 par		1,000,000		400,000
Additional Paid-in Capital		1,500,000		200,000
Retained Earnings		5,500,000		2,200,000
Dividends Declared			210,000
Sales		12,000,000		1,200,000
Cost of Goods Sold	7,000,000		750,000
Operating expenses	4,210,000		50,000
Dividend Income		168,000
Total	P 20,225,000	P 20,225,000	P4,100,000	P4,100,000

Throughout 2019, sales to Tatay Corporation made up 40% of Anak Companys revenue and produced a 30% gross profit. At year-end, Tatay Corporation had sold P300,000 of the goods purchased from Anak Company. None of Anak Company goods were in Tatay Corporations January 1, 2019 beginning inventory.

On the other hand, the inventory held by Anak Company on January 1, 2019 contained merchandise purchased from Tatay Company for P100,000 at a mark-up of 25% above cost. All of these were sold by Anak Company for 2019. Anak Company also purchased P500,000 worth of merchandise from Tatay Company with the same profit percentage, 20% of which still remained in its December 31, 2019 Inventory.

Cost Method of Accounting is used to account for Tatays investment and goodwill is computed using total goodwill approach.

Question 16. How much is the Consolidated Assets presented on 2019 Balance Sheet?

Question 17. How much is the Consolidated Retained Earnings in 2019?

Question 18. What amount is the NCIs share in the Consolidated Net Income?

Question 19. How much is the Consolidated Cost of Goods Sold presented by the group?

Question 20. What is the amount of NCI in the consolidated financial statements?