PROBLEM B: Prima Corporation acquired majority of the stock of Donia Company on January 2, 2015, and a consolidated statement of financial position was prepared. Partial statement of financial position for Prima, Donia and the consolidated entity follow Donia Accounts Prima Corporation Company Consolidated Entity Cash and cash equivalents P100,000 P40,000 P140,000 Accounts receivable 80,000 20,000 100,000 Inventory 200,000 100,000 340,000 Equipment 500,000 200,000 800,000 Investment in Dona Company ? Goodwill 10,000 Total 360,000 1,390,000 Accounts payable P70,000 P40,000 P110,000 Bonds payable 300,000 300,000 Common stock ? 150,000 250,000 Retained earings 567,000 170,000 ? Non-controlling interest 163,000 Total ? 360,000 1,390,000 1. How much is the Fair Value Net Assets of subsidiary Company on January 2, 2015 a. P 163,000 c. P 460,000 b. P 450,000 d. P 470,000 2 How much is the amount of Investment in Dona Company to be shown parent's book? a. P 150,000 C.P 307,000 b. P 163,000 d. P 470,000 3. How much is the common stocks to be reported in the statement of financial position of Prima? a. P 100,000 C. P 350,000 b. P 250,000 d. P 400,000 4. How much is the consolidated Retained earnings to be ported in the statement of financial position? a. P 397,000 c. P 637,000 b. P 567,000 d. P 737,000 w