On January 1, 2018, Paul Corporation sold equipment to Rod Company, its wholly-owned subsidiary for P850,000. Paul had paid P1,250,000 for this equipment, and its book value at the date of sale was P800,000. Both companies use the straight line method of depreciation for their depreciable assets. The equipment had a 10-year life when originally purchased and an expected 10% salvage value. What amount should be included in the consolidated statement of financial position at December 31, 2018 for the equipment cost and accumulated depreciation? OP1,250,000 and P450,000 O P1,250,000 and P562,500 P 800,000 and P450,000 OP 800,000 and P562,500