Problem 1 Leather Company is currently undergoing liquidation proceedings and is consulting with potential buyers about the amount it can recover from the sale of its assets with book value of P7,000,000. Based on the quotations, the assets can fetch price of P6,000,000 if it will be sold within one year as negotiations and bidding will allow interested buyers to compete for the purchase. An interested buyer is willing to pay for P4,000,000 to purchase the assets now. Leather Company has liabilities to settle amounting to P2,000,000. Required: (5 points each) 1. How much is the orderly liquidation value of Leather Company? 2. How much is the forced liquidation value of Leather Company