Selisana was engaged by Mandaue Corporation to perform consulting services, Selisana's compensation for these services consisted of 10,000 shares of Mandaue's P10 par value ordinary shares, to be issued to Selisana on completion of Selisana's services. On the execution date of Selisana's employment contract, Mandaue's stock had a market value of P40 per share. Six months later, when Selisana's services were completed and the share issued, the stock's market value was P50 per share. Mandaue's management estimated that Selisana's services were worth P1,000,000 in cost savings to the corporation. As a result of this transaction, share premium should increase by