Murphy Company reported the following shareholders' equity on January 1, 2020:     Preference share capital, 100,000shares, P10 par -  P1,000,000     Ordinary share capital, 500,000shares, P10 par - P5,000,000     Share premium - Preference   - P50,000     Share premium - Ordinary  - P 200,000     Retained earnings     - P100,000 During the current year, the following transactions were completed:     Retirement of 5,000 preference shares at P11 per share.     Purchase of 5,000 ordinary shares of treasury at P12 per share.     Share split, ordinary share, 2-for-1.     Reissue of 2,000 shares of treasury at P8 per share.     Net income for the year, P300,000. What is the total shareholders’ equity on December 31, 2020?

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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.