The shareholders equity of Cordova Corporation showed the following data on December 31, 2006:

12% Preference share capital, P30 par, 135,000 shares issued and outstanding P4,050,000

Ordinary share capital, P50 par, 180,000 shares issued and outstanding 9,000,000

Share premium - preference 1,080,000

Share premium - ordinary 3,240,000

Retained earnings 1,395,000

The 2007 transactions of the company affecting its shareholders' equity are summarized chronologically as follow:

1. Issued 27,000 preference shares at P40.

2. Issued 94,500 ordinary shares at P70.

3. Retired 5,400 preference shares at P45.

4. Purchased 13,500 ordinary shares at P80.

5. Split ordinary share two for one (par value reduced to P25).

6. Reissued 13,500 treasury shares at P50.

7. Shareholders donated to the company 9,000 ordinary shares when shares had a market price of P52. One half of these shares were subsequently issued for P54.

8. Dividends were paid at the end of the calendar year on the ordinary shares at P2 per share and on the preference shares at the preference rate.

9. Profit for the year was P2,520,000.

Questions: Based on the above and the result of your audit, determine the following as of December 31, 2007:

1. Preference share capital A. P4,617,000 B. P4,968,000 C. P4,698,000 D. P4,860,000

2. Ordinary share capital A. P15,615,000 B. P13,968,000 C. P13,500,000 D. P13,725,000

3. Share premium A. P6,777,000 B. P6,679,800 C. P6,858,000 D. P6,814,800

4. Unappropriated retained earnings A. P1,749,240 B. P1,711,440 C. P2,251,440 D. P1,684,440

5. Total shareholders' equity A. P26,949,240 B. P26,958,960 C. P26,922,240 D. P26,940,240

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