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21 -1 The Shareholders' Equity of Negros Sugar Planters, Inc. showed the following balances on December 31, 20A: Contributed Capital: Share Capital 8% Preference Share P400,000 Ordinary Shares 700,000 Subscribed Share Capital - Preference 300,000 Subscribed Share Capital - Ordinary 100,000 Subscription Receivable - Preference 75,000 Subscription Receivable - Ordinary 50,000 Share Premium - Ordinary 40,000 Revaluation Increment in Property 15,000 Accumulated Profits (Losses) 1,835,000 Q-1 How much was the legal capital of the corporation? a) P1,375,000 c) P1,600,000 b) P1,500,000 d) P1,700,000 Q-2 How much Shareholders' Equity balance as of December 20A? cs Scanale 83,265,000