The balance sheet of Bongbong Company as of 2021 is presented below:

The owners Bongbonglead Company is looking at how much they can sell the company. They are assessing how much is the range of the firm value based on company assets. A third-party appraisal was made for property, plant and equipment, which resulted with the following findings: Land and Building with book value of P 1,000,000 has a market value of P 1,500,000. The remaining portion is for equipment which was deemed to be replaced at 80% of its book value. Other assets and liabilities approximate their replacement values.

Required:

1. Book value of Bongbonglead

2. Replacement cost of property, plant and equipment

3. Replacement value of Bongbonglead

P 160,000 580,000 340,000 2.350,000 P 3,270,000 Assets Cash Trade Receivables Inventory Property, Plant and Equipment, net Total Assets Liabilities and Equity Accounts Payable Long-term Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Equity P 420,000 900,000 1,500,000 450,000 P 3.270.000