The shareholders’ equity of SLEIGHT OF HAND shows the following information as of December 31, 2020

Share capital – ordinary P2,000,000

Share premium – ordinary 200,000

Subscribed capital – ordinary 500,000

Subscription receivable 150,000

Retained earnings 300,000

Treasury shares, at cost 100,000

What amount of shareholder’s equity should SLEIGHT OF HAND report as of December 31, 2020?

Group of answer choices

A. P3,250,000

B. P3,050,000

C. P2,750,000

D. 2,900,000