PROBLEM 8. Condensed statements of financial position of Care Corp. and Charm Corp. as of December 31, 2012 are as follows: Current Assets Noncurrent assets Total assets Liabilities Common stocks, P20 par Additional paid in capital Retained earnings Care P 43,750 Charm P 16,250 181,250 P225,000 P 16,250 106,250 P122,500 P8,750 137,500 75,000 8,750 62,500 6,250 32,500 dy BUSINESS COMBINATION-DATE OF ACQUISITION, #0012 www.coursehero.com/file/25550069/BUSINESS-COMBINATION-DATE-OF-ACQUISITIONpdf/ BUSINESS COMBINATION - DATE OF ACQUISITION #0012 On January 1, 2013, Care Corp. issued 8,750 stocks with a market value of P25/share for the assets and liabilities of Charm Corp. The book value reflects the fair value of the assets and liabilities, except that the noncurrent assets of Charm has a temporary appraisal of P157,500 and the noncurrent assets of Care are overstated by P7,500. Contingent consideration, which is determinable, is equal to P3,750. Care also paid for the stock issuance costs worth P8,500 and other acquisition costs amounting to P4,750. On March 1, 2013, the contingent consideration has a determinable amount of P5,000. On June 1, 2013, the provisional fair value of the noncurrent assets of Charm increased by P2,250. How much is the combined total assets at the end of 2013? A. P435,500 B. P443,000 C. P442,000 D. P444,250