Galaxy Company owned 30,000 ordinary shares of Grand Company acquired on July 31 at a total cost of P1,100,000. On December 1, Galaxy received 30,000 share rights from Grand. Each right entitles the holder to acquire one share at P45. The market price of Grand’s share on this date was P50 and the market price of each right was P10. Galaxy sold the rights on December 31, for P450,000 less a P10,000 commission. What amount should be reported as gain from the sale of the rights?

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A:

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.