Hull Company is indebted to Apex Company under a P5,000,000, 12%, three-year note dated December 21,2018. Because of financial difficulties developing in 2020. Hull Company owed accrued interest of P600,000 on the note on December 31, 2020. Under a debt restructuring on December 31, 2020, Apex Company agreed to settle the note and accrued interest for a tract of land having a fair value of P4,500,000. The acquisition cost of the lqnd is P3,600,000. 1. What amount of pretax gain on extinguishment shoul Hull Company report as component of income from continuing operations in 2020? A. 2,000,000 B. 1,400,000 C. 1,100,000 D. 900,000

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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.