R and S establish a joint arrangement using a separate vehicle (RS). The legal form of the separate vehicle does not confer separation between the parties and the separate vehicle itself. That is, R and S, have rights to the assets and obligations for the liabilities of RX (a joint operation). Neither the contractual terms, not the other facts and circumstances indicate otherwise. R and S each owns 50% of the equity in RS. However, the contractual terms of the joint arrangement state that R has rights to all of the transportation equipment and the obligation to pay the accounts payable in RS. R and S have rights to all other assets in RS and obligations for all other liabilities in RS in proportion to their equity interests (50%). For the year ended December 31, 2013 the statement of financial position of the separate vehicle (RS) is as follows: Assets: Cash Transpo. equipment Furniture & fixtures Total P 100,000 600,000 500,000 P1,200,000 Liabilities and equity: Accounts payable Other liabilities Equity Total P 600,000 200,000 400,000 P1,200,000 a) On December 31, 2013, the total assets of R in his separate statement of financial position would show: b) On December 31, 2013, the total assets of S in his separate of financial position is: c) The total liabilities of R in his December 31, 2013 statement of financial position is: d) The total liabilities of S in his December 31, 2013 statement of financial position is: