The following Statement of Financial Position were prepared for N and K Company on January 1, 2017 just before they entered into business combination:

9. How much is the consolidated liabilities in 2017? a. 1,290,000 b. 1,315,000 C. 1,340,000 d. 1,370,000 10. How much is the consolidated assets in 2017? a. 3,322,000 b. 3,612,000 C. 3,662,500 d. 3,722,5005. How much of the consolidated net income is attributable to Controlling Interest in 2017? a. #339,500 b. #374,500 C. P399,500 d. #434,500 6. How much is the amount of NCI in Net assets of the subsidiary as of December 31, 2017? a. #253,000 b. #257,500 C. #273,000 d. #290,500 7. How much is the consolidated retained earnings in 2017? a. 1,084,500 b. 1,119,500 C. 1,144,500 d. 1,179,500 8. How much is the consolidated shareholder's equity in 2017? a. 2,292,500 b. 2,352,500 C. 2,372,500 d. 2,502,0001. How much is the amount of goodwill (income from acquisition) to be presented in the 2017 consolidated financial statement? a. #40,000 b. #50,000 C. (#60,000) d. (#80,000) 2. How much is the Non-Controlling Interest in the Net Income of Subsidiary in 2017? a. #48,000 b. #50,000 C. #60,000 d. #72,000 3. How much is the consolidated net income in 2017? a. P387,500 b. #422,500 C. #447,500 d. #482,500 4. How much of the consolidated net income is attributable to Non-Controlling Interest in 2017? a. #48,000 b. #50,000 C. #50,500 d. #60,000For item number 1 to 10, use the following details: The following Statement of Financial Position were prepared for N and K Company on January 1, 2017 just before they entered into business combination: N Company K Company Book Value Fair Value | Book Value | Fair Value Cash and Receivables 900,000 900,000 160,000 160,000 Inventory 600,000 800,000 100,000 130,000 Building (5 year life) 1,125,000 1,400,000 300,000 400,000 Equipment (5 year life) 300,000 400,000 250,000 200,000 2,925,000 3,500,000 810,000 890,000 Accounts Payable 450,000 400,000 50,000 50,000 Bond's payable 750,000 750,000 40,000 40,000 Common Stocks #20 par value 750,000 #10 par value 200,000 Additional Paid in Capital --+- 150,000 50,000 ----- Retained Earnings 325,000 470,000 2,925,000 | 1,150,000 810,000 90,000 On the same day, N purchased 70 percent common shares outstanding of K for $500,000. On December 31, N Company and K Company show the result of their own operations: N Company K Company 2017 |#262,500 #200,000 Additional Information for year 2017: The fair value of Non-controlling interest (30%) is assessed at #220,000. N declared dividends but not paid amounting to #80,000 while K declared and paid dividends of #50,000