The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following: Jan. 1, 20x1 Dec. 31, 20x1 Current assets 1,200,000 ? Noncurrent assets 4,000,000 ? Current liabilities 900,000 1,000,000 Noncurrent liabilities ? 3,000,000 Additional information: - COLTISH's working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1. - Total equity as of January 1, 20x1 is $1,700,000. Profit for the year is 2,400,000 while dividends declared amounted to P1,000,000. There were no other changes in equity during the year. How much is the total noncurrent liabilities as of January 1, 20x1? a. 2,600,000 b. 2,800,000 c. 3,200,000 d. 3,400,000