Pavilion Corp. acquired an 80% interest from Sacco Company on January 1, 2018 for P2,200,000 when the fair value of Sacco Company's identifiable assets and liabilities was P2,000,000. Sacco Company's equity accounts on date of acquisition were: Share Capital-P400,000; Share Premium-P300,000; and Retained Earnings-P900,000. The price difference between the carrying value and fair value of net assets is attributable to a non-current depreciable asset with 5 years remaining life. Both companies are classified as SMEs.

Determine the amount of goodwill in the consolidated balance sheet as of December 31, 2018.