15. From the data given below, determine the Consolidated net income.

On January 1, 2018 JYN Company purchased 80% of the outstanding shares on JAYNE Company for P900,000, On this date, JAYNE Company's Capital stock was valued at P850,000 and Retained Earnings at P150,000. An examination of JAYNE Company's assets and liabilities on January 1, 2017 revealed that their book values were equal to fair values for all items except merchandise, which had a book value of P150,000 and a fair value of P125,000. 80% of these goods were sold in 2018 and the remaining 20% were sold in 2019. Any remaining excess arising from the combination was allocated to trade secrets with a remaining life of 20 years. JAYNE Company regularly sells merchandise to JYN Company at a 30% gross profit rate. During 2020, intercompany sales amount to P100,000, of which P40,000, and P30,000 still remain in the ending inventory and unpaid by JYN Company. Additionally, JYN Company's January 1, 2020 inventory includes P50,000 of merchandise purchased in the preceding year from JAYNE Company. JYN Company also sold equipment to JAYNE Company on July 1, 2019 reporting a gain of P50,000. The equipment had a remaining 5-year life at the date of sale. The following selected were reported in the books of JYN and JAYNE Company as of December 31, 2020. JYN Company JAYNE Company Sales 2,500,000 1,500,000 Cost of Sales 1.250,000 750,000 Operating Expenses 250,000 250,000 Dividends 500,000 100,000 Capital Stock 3,000,000 850,000 Retained Earnings 2,000,000 800,000 Total Assets 8,000,000 4,000,000Nault Co acquired 100% of a foreign subsidiary. The subsidiary's trial balance reported the following balances in the subsidiary's local currency units (L.CU)at the end of the current year. Debits Credits Cash LCU 50,000 Accounts payable LOU 40,000 Accounts receivable 100,000 Unearmed revenue 20.000 Equipment, net 60,000 Ordinary shares 75.000 Cost of sales 20,000 Share premium 25,000 Depreciation expense 4,000 Retained earnings-1/1 40,000 Operating expenses 13,500 Revenues 50.000 Dividends 2,500 The equipment was purchased on March 1 of last year. The peso equivalent of 1LCU to the peso was, P20 (date of the machines purchase): P22 (average for the current year); P23 (date of dividend declaration): P24 (date of dividend payment): P55 (date at the end of the current year. The general price index were the ff. 2004 100 January 1, 2008 150 Average price index for 2008 400 December 31, 2008 525 The Philippine peso equivalent of the retained earnings on January 1 amounted to P760,090. Assume all sales and expenses to occurred evenly throughout the year