Determine the goodwill on the December 31, 2021 consolidated balance sheet.
On May 1, 2021. P Corp. purchased 75% of S Cos P10 par ordinary shares for P990,000. On this date, the carrying amount of S's net assets was P1,000,000. The fair values of S Co.'s identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net), which were P150,000 in excess of the carrying amount. The estimated remaining life of the asset is 5 years. For the year ended December 31, 2021, S had net income of P320,000 and paid cash dividends to P Corp. of P115.000 (all coming from post-acquisition
Determine the goodwill on the December 31, 2021 consolidated
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