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PROBLEM # 4 Mikay and Gino Corp. has 55% of the non-current assets which has an estimated replacement value of 150% of the recorded net

PROBLEM # 4

Mikay and Gino Corp. has 55% of the non-current assets which has an estimated replacement value of 150% of the recorded net book value which is amounted to P 2,500,000,000 and the remaining has an estimated replacement value of 70% of the recorded net book value.

Additional Information:

Current assets: P 875,000,000

Current liabilities: P 100,000,000

Non-current liabilities: P 455,000,000

Oustanding shares: 1,500,000

Required:

1. How much is the total adjusted noncurrent assets of the affected items?

2. How much is the total assets' replacement value?

3. How much is the replacement value per share?

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