YOU CO. is authorized to issue 300,000 of P2 par value ordinary shares. The company has the following transaction: Issued 60,000 shares at P32 per share; received cash. Issued 1,000 shares, selling at P36 per share, to lawyers for services in connection with the organization of the corporation. The value of the legal services was P35,000. Issued 1,500 shares, valued objectively at P33,000, to the employees instead of paying them cash wages Issued 137,500 shares in exchange for a building valued at 885,000 and land valued at P240,000. (The building was originally acquired by the investor for P750,000 and has P300,000 of accumulated depreciation; the land was originally acquired for 90,000.) Received cash for P29,500 shares issued at P38 per share. What is the share premium of the statement of financial position?