Pina corp holds 100 percent of the common stock of Tina corp, an investment acquired for P520,000. Immediately following the combination, Pina net assets have a book value of P900,000 and a fair value of P1,050,000. The book and fair value of Tina net assets on the date of combination are P350,000 and P425,000, respectively. Immediately following the combination, a consolidated balance sheet is prepared. Based on the information given above, what will be the amount of net assets reported in the consolidated balance sheet?

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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.