Puro Corporation purchased 80 percent ownership of Sato Company on December 31, 2017, for P260,000. On that date, Sato Company's property and equipment had a fair value of P50,000 more than the book value shown, while its long-term liabilities had a market value of P150,000. All other book values approximated fair values.

1. In the consolidated statement of financial position on December 31, 2017, what amount of total liabilities will be reported?

2. Using the full fair value approach, how much goodwill will be reported?

3. Using the full fair value approach, how much non-controlling interest will be reported?

4. Using the full fair value approach, how much total assets will be reported?

5. Using the proportional approach, how much goodwill will be reported?

6. Using the proportional approach, how much non-controlling interest will be reported?

7. Using the proportional approach, how much total shareholders' equity will be reported?

Sato Company P 90.000 60,000 250,000 Puro Corporation P 70,000 100,000 500,000 260,000 P930,000 P180,000 200,000 300,000 250,000 P930,000 Cash and cash equivalents Inventory Property and equipment (net) Investment in Sato Company Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity P400,000 P 60,000 90,000 100,000 150,000 P400,000