Gusion Company purchases 9,000 shares of Layla Company for P70 per share. Before acquisition, Layla Company has the following balance sheet: On the date of acquisition, Gusion believes that the inventory has a fair value of P400,000 and that the property and equipment is worth P500,000. All other assets and liabilities fair value is equal to their carrying amount. The cost of disposal of the noncurrent asset held for sale is P5,000. Layla’a shares was selling ex-dividend. The goodwill/gain on bargain purchase in the consolidated statement is:    A. (P40,000) B. P30,000 C. P185,000 D. (P35,000)

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