PROBLEM 3. Philippine Incorporated's shareholders equity section for its operations ended December 31, 2017 showed the following balances: Preference Share Capital, P 80 par value P3,200,000 Ordinary Share Capital, P 30 par value 1,200,000 Preference Share Premium 800,000 Ordinary Share Premium 500,000 Accumulated Profits 4,500,000 Total Shareholders' Equity P 10,200,000 Required: How much was the issue price for the following: (a) preference shares? - (b) ordinary shares