Pines Company purchased all of the outstanding shares of Spine Company for P6,000,000 on January 1, 2011. The December 31, 2010 statement of financial position of Spine Company showed net assets of P4,000,000. At acquisition date, the carrying amounts of the identifiable assets and liabilities of Spine Company were equal to their fair value, except for the following identified items in the statement of financial position: Book Value Fair Value Building - net P8,000,000 P8,950,000 Machinery - net 1,500,000 1,350,000 Long-term notes payable 5,000,000 4,800,000 As a result of the combination above, what amount of goodwill (full), if any, will be shown in the January 1, 2011 consolidated statement of financial position of Pines Company and its wholly-owned subsidiary, Spine Company? OP-O- O P1,000,000 P1.400,000 O P1,600,000