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What is the total amount of ordinary shares

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Question - Pre-consolidation condensed statement of financial position data for constituent companies ME and YOU follow (all amounts are in Philippine Peso): ME YOU Assets 212,000 150,000 Liabilities 62,500 50,000 Ordinary Shares, P100 par 100,000 62,500 Share Premium 12,500 25,000 Retained Earnings 37,500 12,500 Liabilities and Equity 212,500 150,000 The shareholders of ME and YOU agree to consolidate into a new corporation, MY Corporation. The shares of the new corporation are to be exchanged for the shares of the constituent companies on 5-for-1 basis. The shares of MY Corporation have a par value of P15/share. After the business combination, what is the total amount of ordinary shares?

Reference no: EM132930934

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