Problem 24-23 (AICPA Adapted) Gabriel Company's employee share purchase plan specifies that for every Pi withheld from employee's wages for the purchase of Gabriel's ordinary shares, Gabriel Company contributes P2. The shares are purchased from Gabriel Company's treasury shares at market price on the date of purchase. During the current year, the employee witholding was P350,000, the market value of 150,000 shares issued was P1,050,000 and the carrying amount of treasury shares issued was P900,000. What amount should be recognized as expense in the current year for the share purchase plan? a. 1,050,000 b. 900,000 c. 700,000 d. 550,000