The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:

Current Assets P195,000

Land 1,320,000

Building 660,000

Equipment 525,000

Total Assets P2,700,000

Liabilities P525,000

Ordinary Shares, P5 par 900,00

Share Premium 825,000

Retained Earnings 450,000

Total Equities P2,700,000

All the assets and liabilities of Arthur were assumed to approximate their fair values except for land and

building. It is estimated that the land has a fair value of P2,100,000, and the fair value of the building

increased by P480,000. Ezekeil Corporation acquired 80% of Arthur's outstanding shares for P3,000,000.

The non-controlling interest is measured at fair value.

Required:

a. Determine the goodwill or gain on bargain purchase assuming the consideration paid includes control

premium of P852,000.

Determine the goodwill or gain on bargain purchase assuming the consideration paid excludes control

premium of P138,000 and the fair value of the non-controlling interest is P736,500.