Point Company issued 25,000 shares of its P50 par ordinary and 40,000 shares of its P25 redeemable preference for a total amount of P3,000,000. The redeemable preference shares has a mandatory redemption date 2 years after their issuance. At the date of issue, the ordinary shares had a market value of P65 per share and the preference shares are selling at P30 per share.  What is the amount credited to share premium from ordinary shares?     NOTE FOR YOUR FINAL ANSWER:  Do not use peso sign  Do not use comma  Do not use decimal point   Round off your final answer to the nearest whole number  Example: If your answer is Php 123,456.78, WRITE 123457

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