What amount should be reported as total assets at the end of the period?*

HELL'S KITCHEN Company has the following accounts information for the year ended December 31, 2021. as it was organized only on January 1, 2021: Accounts payable 500,000 Accounts receivable 400,000 Accumulated depreciation - Property and equipment 100,000 Cash 500,000 Finished goods - December 31 450,000 Goods in process - December 31 750,000 Net Income for the current year 1,000,000 Property and equipment 3,000,000 Raw materials - December 31 500,000 The company was organized on January 1, 2021 by issuing 25,000 ordinary shares of P100 par value being issued in exchange for property and equipment worth P3,000,000 and cash of of P1,000,000