PETRON Company purchased $60\%$ of the outstanding shares of SHELL Company by paying P$300,000$ on

January $2,2022.$ SHELL had Share Capital and Retained Earnings on this date amounting to P$150,000$ and

$P230,000$ respectively. Also on this date, an equipment was undervalued by $P20,000$ with a remaining useful

life of $10$ years. On the same date, PETRON had P$1,000,000$ of Share Capital and P$700,000$ of Retained

Earnings. The fair value of the $NCl$ is $P180,000.$ PETRON and SHELL reported the following for the year ended

December $31,2022($see image below$).$

End of the year evaluation indicated that goodwill is impaired by P$10,000.$

How much is the Net Income Attributable to $NCl?$

a$.$ P$59,200$

b$.P55,200$

c$.$ P$58,300$

d$.$ P$56,700$

How much is the Consolidated Retained Earnings at December $31,2022?$

a$.P860,800$

b$.$ P$859,300$

c$.$ P$856,800$

d$.P861,700$

How much is the Consolidated Equity at December $31,2022?$

a$.P2,056,000$

b$.$ P$1,859,300$

c$.P2,060,000$

d$.P2,000,000$