ACC113 Accounting for Business Combination

Third Periodical Quiz #1

Name: Date:
Section: Score:

General Direction: Choose the best answer and shade on the separate answer sheet provided.
Erasures on the answer sheet are strictly prohibited.

Multiple choice questions

1. Eliminating entries are made to cancel the effects of intercompany transactions and are made in
a. Books of the parent company
b. Books of the subsidiary company
c. Neither the books of the parent nor the subsidiary
d. Both the books of the parent and the subsidiary

2. An acquirer might obtain control of an acquiree in all of the following, except

a. By transferring cash, cash equivalents and other assets
b. By issuing equity securities
c. By contract alone, even without consideration
d. By acquiring interest in a joint venture

3. When does the measurement period end for a business combination in which there was incomplete
information on the date of acquisition?
a. When the acquirer receives the information or one year from the acquisition date, whichever occurs
earlier
b. On the final date when all contingencies are resolved.
c. Thirty days from the date of acquisition
d. At the end of the reporting period in the year of acquisition.

4. The non-controlling interest shall be presented in the consolidated statement of financial position as part of
equity ____________
a. At the fair value of the shares
b. At its proportionate share in the recognized net assets of the acquiree
c. Either A or B
d. Neither A nor B

5. Statement 1: An investor, regardless of the nature of its involvement with an entity (the investee), shall
determine whether it is a parent by assessing whether it controls the investee.
Statement 2: An investor controls the investee when it is exposed or has rights to variable returns from its
involvement with the investee and has the ability to affect those returns through its power over the investee.
a. Both statements are TRUE
b. Both statement are FALSE
c. Statement 1 is TRUE and statement 2 is FALSE
d. Statement 1 is FALSE and statement 2 is TRUE

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
6. Which of the following will increase the consolidated net income attributable to controlling interest?
a. Amortization of excess of fair value over book value of a depreciable asset
b. Impairment loss and the non-controlling interest is measured at fair value
c. Intercompany dividends
d. Amortization of excess of book value over fair value of an inventory

7. A parent company regularly sells merchandise to its 80% owned subsidiary. Which of the following
statements describes the computation of non-controlling interest in net income?
a. the subsidiary’s net income times 20%
b. the subsidiary’s net income x 20% + unrealized profits in the beginning inventory- unrealized profits
in the ending inventory
c. the subsidiary’s net income + unrealized profits in the beginning inventoryunrealized profits in the
ending inventory x 20%
d. the subsidiary’s net income + unrealized profits in the ending inventoryunrealized profits in the
beginning inventory x 20%

8. A depreciable asset was sold by a parent company to its subsidiary during the previous year. This
depreciable asset was not sold by the subsidiary to a third party for 2 years. During the current year, which
of the following will most likely be affected by the working paper entries?
a. Depreciation expense
b. Gain on sale of depreciable asset
c. Loss on sale of depreciable asset
d. Cash

9. Which of the following is not one of the steps in accounting for an acquisition?
a. Prepare proforma financial statements prior to acquisition.
b. Determine the acquisition date.
c. Identify the acquirer
d. Expense the costs and general expenses of the acquisition in the period of acquisition.

10. The requirements of Business Combinations apply to all of the following business combinations except for
which one?
a. Combination between financial institutions
b. The acquisition of a foreign entity by a Philippine entity
c. Combination between not-for-profit organizations
d. The acquisition of a group of assets that constitutes a business.

11. In a business combination accounted for as an acquisition, the fair value of the identifiable net assets
acquired exceeds the fair value of the consideration paid by the acquirer and the fair value of the
noncontrolling interest in the acquiree. The excess fair value of net assets over investment value should be
reported as
a. Gain.
b. Reduction of the values assigned to current assets and a deferred credit for any unallocated portion.
c. Reduction of the values assigned to nonfinancial assets and a gain for any unallocated portion.
d. Prorata reduction of the values assigned to current and noncurrent assets.

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 ACC113 Accounting for Business Combination
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12. Aye Company acquired all of the assets and liabilities of Bee Company for cash in a legal merger. Which one
of the following would not be recognized by Aye Company on its books in recording the business
combination?
a. Accounts receivable
b. Investment in Bee Company
c. Intangible asset-Patent
d. Accounts payable

13. Which of the following conditions is required to exclude a subsidiary from consolidation?
a. The other owners object to the nonconsolidation.
b. The parent makes an election not to consolidate.
c. The other owners do not object to the nonconsolidation and the subsidiary does not have any
publicly traded debt or equity instruments.
d. The parent must own 100% of the subsidiary.

14. A subsidiary, acquired for cash in a business combination, owned inventories with a market value different
from the book value as of the date of combination. A consolidated statement of financial position prepared
immediately after the acquisition would include this difference as part of
a. Deferred Credits
b. Goodwill
c. Inventories
d. Retained Earnings

15. A 70%-owned subsidiary company declares and pays a cash dividend. What effect does the dividend have
on the retained earnings and noncontrolling interest equity reported on the consolidated statement of
financial position?
a. No effect on either retained earnings or noncontrolling interest.
b. No effect on retained earnings and a decrease in noncontrolling interest.
c. Decrease in both retained earnings and noncontrolling interest.
d. A decrease in retained earnings and no effect on noncontrolling interest.

16. Which of the following is not a characteristic of intercompany bonds?

a. Intercompany bonds may occur on the date a business combination or subsequent to a business
combination.
b. When bonds become intercompany, it is as though the bonds have been retired for consolidated
purposes.
c. Intercompany bonds can result in the recognition of gain or a loss for consolidating purposes.
d. When bonds become intercompany, they are written off of the books of the issuing affiliate and the
investing affiliate.

17. It refers to the date on which the acquirer obtains control of the acquiree.
a. Business combination date
b. Acquisition date
c. Control date
d. Consolidation date

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
18. What is the measurement of the consideration transferred or given up in a business combination?
a. Acquisition date-fair values
b. Acquisition date-book value
c. Acquisition date-face value
d. Acquisition date-carrying value

19. Under IFRS 3, what is the treatment of acquisition related costs in a business combination under IFRS 3?
a. It shall be expensed as incurred and presented as part of profit or loss.
b. It shall be capitalized as part of consideration given up in computation of goodwill or gain on
bargain purchase.
c. It shall be debited to share premium.
d. It shall be charged directly to retained earnings.

20. IFRS 10 defines them as the financial statements of a group in which the assets, liabilities, equity, income,
expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic unit.
a. Consolidated financial statements
b. Separate financial statements
c. Group financial statements
d. Combined financial statements

21. The following increases the consolidated net income attributable to controlling interest except
a. Downstream unrealized loss from the sale of land
b. Downstream realized gain from the sale of land
c. Upstream realized loss from the sale of equipment
d. Upstream unrealized loss from the sale of equipment

22. Statement (1) Control premium is included in the computation of the assumed fair value of the previously
held securities based on the price paid involving the new acquisition in a step acquisition.
Statement (2) The contingent consideration is recognized to the extent probable on the date of acquisition.
a. Only the first statement is true
b. Only the second statement is true
c. Both statements are true
d. Both statements are false

23. Under IFRS 3, on the date of acquisition, we can assume a contingent liability when it is
a. measured reliably and probable
b. measured reliably and reasonably possible
c. not measured reliably, but probable
d. none of the choices

24. Statement (1) The amortization of the fair value differentials affects the non-controlling interest in net assets.
Statement (2) The intercompany dividend revenue affects the non-contolling interest in net income.
a. Only the first statement is true
b. Only the second statement is true
c. Both statements are true
d. Both statements are false

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 ACC113 Accounting for Business Combination
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25. A subsidiary shall be excluded from consolidation when
a. The investor is a venture capital organization, mutual fund, unit trust or similar entity.
b. The business activities of the subsidiary are dissimilar from those of the other entities within the
group.
c. The subsidiary is acquired with the intention to dispose of it within twelve months from date of
acquisition.
d. The subsidiary is operating under severe long-term restrictions that significantly impair its ability to
transfer funds to the parent.

26. Statement 1: On the consolidated working papers, the net income of the parent is allocated between the
controlling and non-controlling interests.
Statement 2: On the consolidated working papers, the net income of the subsidiary is allocated between the
controlling and non-controlling interests.
a. Both statements are true
b. Both statements are false
c. Statement 1 is true; statement 2 is false
d. Statement 2 is true; statement 1 is false

27. Which of the following statements regarding consolidated financial statements is true?
a. There are ledgers kept for the group entity prepared at the end of each reporting period, which
combine the separate financial statements of a parent and its subsidiaries.
b. The purpose of consolidated financial statements is to show the financial performance, financial
position and cash flows of the legal entity.
c. In the consolidated financial statements, transactions and realized profits within the group must be
eliminated and adjusted.
d. Consolidation elimination entries and adjustments have to be understood with reference to the
original entries that are passed in the individual books of either the parent or the subsidiary.

28. On December 31, 2024, Entity A Co. acquired Entity B, Inc. Before the acquisition, a product lawsuit seeking
P10 million in damages was filed against Entity B. As of the acquisition date, Entity A believed that it was
probable that a liability existed and that the fair value of the liability was P5 million.

What amount should Entity A record as a liability as of December 31, 2024?

a. 0
b. 5,000,000
c. 7,500,000
d. 10,000,000

29. Unrealized profit ending inventory in 2025 will be realized in

a. 2026, when the buying affiliate sells the inventory to outsiders
b. 2026, when the buying affiliate uses the inventory
c. 2025 at year-end
d. none of the choices

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
On January 1, 2024, ABC Corp. acquired 90% of XYZ Company’s outstanding shares for P1,350,000. The book value
of XYZ’s net assets is P1,000,000, which is P300,000 lower than its fair value. The excess of fair value over the book
value is attributable to a fixed asset with 2 years remaining life. Net income for the year 2024 amounted to
P2,000,000 for ABC and P1,780,000 for XYZ. During 2025, XYZ sold merchandise to ABC, one-fifth were sold to
outsiders by the end of 2025. The profit for this intercompany sale amounted to P10,000. Also during 2025, ABC sold
merchandise to XYZ, one-third of which were unsold to outsiders at the end of the same year. The profit for this sale
amounted to P15,000. Net income for the year 2025 amounted to P2,500,000 for ABC and P2,000,000 for XYZ.

30. Compute the consolidated net income for 2024.

a. 3,780,000 c. 3,630,000
b. 3,467,000 d. 3,645,000

31. Compute the consolidated net income attributable to non-controlling interest for the year 2025.
a. 185,000 c. 184,000
b. 184,200 d. 184,800

On January 1, 2024, PQR Co. acquired 70% of the outstanding shares of MNO Co. at a price of P1,350,000. On the
date of acquisition, MNO Co. had a total equity of P1,200,000 (Ordinary shares, P500,000 and Retained Earnings,
P700,000). All the assets and liabilities of MNO Co. have book value equal to its fair value except for machinery
which is undervalued by P50,000. The remaining useful life of the machinery is 2.5 years.

In 2025, the companies resulted to the following:

PQR Co. MNO Co.
Net income 750,000 500,000
Dividends paid 200,000 150,000

During 2025, PQR Co. sold merchandise to MNO Co. at 150% of its cost, the same percentage that was used last
year. The composition of MNO Co. inventory were as follows:

Acquired from PQR Co. Acquired from XYZ Co.

Beginning balance 19,200 100,000
Ending Balance 36,000 135,000

The retained earnings of MNO Co. per books at the beginning of 2025 was P900,000. Non-controlling interest is
measured using the proportionate share. Impairment of goodwill, if any amount to P40,000 and P50,000 in 2024 and
2025, respectively.

32. Compute the consolidated net income attributable to parent in 2025.

a. 939,400 c. 1,059,400
b. 925,400 d. 935,400

33. Compute the non-controlling interest in net assets in 2025.

a. 591,500 c. 528,000
b. 545,000 d. 540,000

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Third Periodical Quiz #1
34. The QRS Corp. acquired 60% of the outstanding shares of JKL Corp. At the beginning of the year, JKL Corp
sold machinery to QRS Corp. for P490,000. The machinery was acquired 3 years ago with a carrying value of
700,000 and a total estimated useful life of 10 years. QRS Corp. and JKL Corp reported net income of
P600,000 and P550,000, respectively. Dividends declared and paid by JKL Corp for the year amounted to
P100,000.

Compute the non-controlling interest in net income

a. 292,000 c. 304,000
b. 208,000 d. 220,000

DEF Corporation acquired all the identifiable net assets of TUV Company on August 1, 2024. TUV Company
reported assets with a book value of P1,520,000 and liabilities of P890,000. The total consideration of the surviving
company is composed of cash amounting to P110,000 and shares with a par value of P16, which is P4 less than its
fair value.

The acquiring company determined that the fair value of the machinery of TUV was P30,000 higher than its book
value, and the recorded amount of the inventory was overvalued by P12,000. All other identifiable assets and
liabilities reported by the acquired company approximated the recorded amounts.

The following are independent cases relating to the merger:

35. Compute the number of shares issued under the merger, assuming the acquiring company recorded a gain
on a bargain purchase of P212,000.
a. 16,300 c. 17,500
b. 13,300 d. 14,500

36. Assume the total consideration of the surviving company is composed of cash amounting to P110,000 and
bonds traded at 125. Compute the face amount of the bonds issued under the merger, assuming the
acquiring company recorded goodwill of P184,000.
a. 596,800 c. 529,600
b. 577,600 d. 548,800

37. Parent Co. issued 200,000 shares of 10 par value common stock to acquire Subsidiary Co. in an acquisition-
business combination. The market value of Parent's common stock is P24 per share. Legal and consulting
fees incurred in relation to the acquisition are P220,000 paid in cash. Registration and issuance costs for the
common stock are P70,000.

What should be recorded in Parent's additional paid-in capital account for this business combination?
a. 3,090,000 c. 2,730,000
b. 2,800,000 d. 2,510,000

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 ACC113 Accounting for Business Combination
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38. On September 1, 2024, ABC Co. acquired all the identifiable net assets of JKL. The total assets of JKL is
P2,430,000, while its liabilities amount to P610,000. The book values of the acquired company’s identifiable
assets and liabilities equal their fair values.

As a consideration, ABC issued its own shares of stock with a market value of P1,715,000 and cash
amounting to P375,000. Contingent consideration that was probable and reasonably estimated on the date of
acquisition amount to P148,000. The merger resulted into P648,000 goodwill.

Compute the pre-existing goodwill of JKL Company immediately before the merger.
a. 154,000 c. 698,000
b. 230,000 d. 456,000

39. XY Co. had the following transactions with two subsidiaries, D1 and D2, during 2024: Sales of P5,880,000 to
D1, Inc., resulting in a P1,764,000 gross profit. D1 had P1,470,000 of this inventory on hand at year-end.
Purchases of raw materials totaling P23,520,000 from D2 Corp., a wholly-owned subsidiary. D2’s gross
profit on the sale was P4,704,000. XY had P5,488,000 of this inventory remaining on December 31, 2024.
Before working paper entries, XY had combined current assets of P29,400,000.

Compute the amount XY should report in its December 31, 2024, consolidated financial position for current
assets
a. 22,442,000 c. 27,861,400
b. 29,400,000 d. 30,938,600

40. The CB Company owns 65% of the HD Company. On their separate financial statements, CB Company has
Trade Receivables of P3,412,500, including P84,000 due from HD and HD Company has Trade Receivables
P1,148,000, including P115,500 due from XY.

What figure should appear for trade receivables in CB’s consolidated statement of financial position?
a. 4,560,500 c. 4,361,000
b. 4,476,500 d. 0

41. G Company acquired inventories on October 18, 2023, from its 65% owned subsidiary, B Company. The
inventories were sold for P1,246,000 including the 25% markup on cost. Out of these inventories, 55% were
sold to outsiders. During the year, G Co. reported net income of P3,105,000 and B Co. reported net income of
P1,876,000.
Based on the above transaction, how much is the realized profit to be allocated to controlling interest in
2024?
a. 112,140 c. 137,060
b. 72,891 d. 89,089

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
42. GV Company acquired 75% of EZ Company’s outstanding shares for P510,000 cash. At that date, EZ reports
identifiable assets with a book value of P1,040,000 and a fair value of P1,280,000, and it has liabilities with a
book value and fair value of P716,000.

Compute the goodwill or (gain on bargain purchase) arising on consolidation if non-controlling interest is
measured at fair value and that control premium of P30,000 is included in the purchase price
a. 106,000 c. (87,000)
b. 116,000 d. 57,000

43. VP Company acquired a 75% interest in JS Company in 2022. For years ended December 31, 2023 and 2024,
JS reported net income of P5,740,000 and P6,500,000, respectively. During 2023, JS sold merchandise to VP
for P1,520,000 at a cost of P1,040,000. Two-fifths of the merchandise was later resold by VP to outsiders for
P700,000 during 2024. In 2024, VP purchased merchandise from JS for P1,760,000 at a profit of P640,000.
One-fourth of the merchandise was resold by VP to outsiders for P540,000 during 2024.

Compute the non-controlling interest in net income in 2024

a. 1,553,000 c. 1,577,000
b. 1,657,000 d. 1,673,000

44. KR Corporation paid P4,500,000 for a 90% interest in CK Corporation on January 1, 2024. The excess of the
aggregate amount over the book value of the identifiable net assets of the acquired company amount to
P240,000. The excess was allocated as follows: P160,000 to an undervalued equipment with a five-year
remaining useful life and the balance to goodwill. Non-controlling interest is measured at fair market value.
Net income of KR in 2024 is P2,000,000 ; Net income of CK in 2024 is P500,000. Dividends declared by CK to
KR amount to P48,000.

Compute the consolidated net income in 2024

a. 2,420,000 c. 2,340,000
b. 2,468,000 d. 2,383,200

45. MB owns 70% of DW Company’s outstanding ordinary shares. DW Company, in turn, owns 20%
investment in RC Corporation. During 2024, MB earned a net income of P8,015,000 from its own operations
while DW suffered a loss of P1,500,000 excluding its share in the earnings of associates, if any. RC reported a
net income of P1,087,500. DW declared dividends of P625,000 from its accumulated profits in previous
years.

The consolidated net income for the year 2024 is

a. 7,117,250 c. 6,679,750
b. 6,527,500 d. 6,732,500

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
On January 1, 2022, RR Corporation acquired 80 percent of SS Corporation’s P10 par common stock for P956,000. On
this date, the fair value of the non-controlling interest was P239,000 and the carrying amount of SS’s net assets was
P1,000,000. The fair value of SS’s identifiable assets and liabilities were the same as their carrying amounts, except
for plant assets (net) with a remaining life of 20 years, which were P100,000 in excess of the carrying amount. For the
year ended December 31 2022, SS had net income of P190,000 and paid cash dividends totaling P125,000.
46. In the January 1, 2022 consolidated balance sheet, the amount of goodwill reported should be:
a. 0 c. 95,000
b. 76,000 d. 156,000

47. In the December 31, 2022 consolidated balance sheet, the amount of non-controlling interest reported should
be:
a. 200,000 c. 251,000
b. 239,000 d. 252,000

ACME Co. paid P110,000 for the net assets of Comp Corp. At the time of the acquisition, the following information
was available related to Comb’s balance sheet:

Book Value Fair Value

Current Assets 50,000 50,000
Building 80,000 100,000
Equipment 40,000 50,000
Liabilities 30,000 30,000
48. What is the amount recorded by ACME for the building?
a. 110,000 c. 80,000
b. 20,000 d. 100,000

49. What amount of goodwill or gain should be recognized?

a. Gain of 30,000 c. Goodwill of 30,000
b. Gain of 60,000 d. Goodwill of 60,000

50. DV Corp. owns 70% of PF Corp’s ordinary shares. On August 1, 2024, DV Corp. acquired an equipment
from PF Corp. for P20,300,000. The carrying amount of the equipment is P11,900,000 and has a remaining
life of 8 years.

Due to this intercompany transaction, compute the net adjustment (increase/decrease) in the consolidated
net income attributable to controlling interest for 2024
a. 5,573,750 decrease c. 7,962,500 decrease
b. 7,350,000 increase d. 5,145,000 increase

51. Parrot Corp. owns 60% of Sweet Corp.'s outstanding capital stock. On May 1, 2021, Parrot advanced Sweet
P70,000 in cash, which was still outstanding on December 31, 2022. What portion of this advance should be
eliminated in the preparation of the December 31, 2022 consolidated balance sheet?
a. 70,000 c. 28,000
b. 42,000 d. 0

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
52. Statement 1: The PFRS for SMEs required a parent to present consolidated financial statements but does not
require a parent to present separate financial statements.
Statement 2: The PFRS for SMEs does not require combined financial statements to be prepared.
a. Only Statement 1 is correct. c. Both statements are correct.
b. Only Statement 2 is correct. d. None are correct.

53. In a separate financial statement using PFRS for SMEs, investment in subsidiaries are may be accounted for
using
a. Cost c. Cost less impairment
b. Net realizable value d. In accordance with PFRS 9

54. Which of the following statements is true relating to PFRS for SMEs?
a. There is no difference in the treatment of NCI under Full PFRS and PFRS for SMEs.
b. PFRS for SMEs requires partly-owned parents to seek permission of other shareholders for the
exemption.
c. The consolidation procedures under Full PFRS and PFRS for SMEs have major differences.
d. The definition of the control are the same under Full PFRS and PFRS for SMEs.

55. Under PAS 27, a parent chooses to account for its investment in a subsidiary at cost. If the initial cost of the
investment was ₱3M and the subsidiary’s net assets have increased to ₱4M, what amount should the parent
report on its separate financial statements?
a. ₱3M
b. ₱4M
c. ₱1M
d. ₱0M
e. None of the above

56. Titan Ltd. prepares separate financial statements and reports its investment in Alpha Ltd. under the cost
model. Alpha’s net assets increase by ₱4M during the year. How should Titan report this in its separate
financial statements?
a. Increase investment in subsidiary by ₱4M
b. Recognize no change
c. Credit additional paid-in capital by ₱4M
d. Report as an asset revaluation surplus
e. None of the above

57. If the Parent Corporation accounts its Investment in Subsidiary using cost method in its separate financial
statements, which income item will appear in its separate statement of comprehensive income?
a. Gain on bargain purchase in case the fair value of net assets acquired is higher than the fair value of
the consideration given up for the acquisition of the investment in subsidiary
b. Dividend income from subsidiary when its right to receive dividend is established through
declaration by the board of directors of its subsidiary
c. Investment income or share in adjusted net income of its subsidiary
d. Gain on changes in fair value of investment in subsidiary

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 ACC113 Accounting for Business Combination
Third Periodical Quiz #1
58. Under PAS 27, if the parent corporation elected to account its investment in subsidiary using fair value
model through other comprehensive income in its separate financial statements, which is correct in the
parent's separate income statement?
a. Gain on bargain purchase will be recognized in profit or loss if the fair value of the net assets
acquired is higher than the fair value of consideration given up by the parent corporation.
b. Impairment loss on investment in subsidiary will be recognized in profit or loss if the book value of
the investment in subsidiary is lower than its recoverable amount which is the higher between value
in use or fair value less cost to sell.
c. Dividend income from subsidiary will be recognized in profit or loss when its right to receive
dividends is established.
d. Share in adjusted net income (net loss) of the subsidiary will be recognized in profit or loss from the
date the parent obtains control of the subsidiary.

59. Under which of the following methods of carrying a subsidiary on its books, if any, will the carrying
amount of the investment normally change following a combination?
a. Both cost method and equity method
b. Cost method
c. Equity method
d. Neither cost method nor equity method

60. On January 1, 20x1, Pangasinan Co. acquired 90% of outstanding ordinary shares of Siquijor Co. at a price of
₱1,800,000. Pangasinan Co. paid ₱40,000 costs related to acquisition of shares. At the acquisition date, the net
assets of Siquijor Co. were reported at ₱1,900,000. All the assets of Siquijor Co. are properly valued except
for a machinery which is undervalued by ₱300,000. The machinery has a remaining useful life of 5 years.

For the year ended December 31, 20x1, Siquijor Co. reported net income of ₱400,000 and declared dividends
of ₱60,000. The fair value of Investment in Siquijor Co. on December 31, 20x1 is ₱2,000,000 while the cost of
disposal is 5% of fair value. Pangasinan Co. voluntarily prepared its separate financial statements.

What amount should be reported as investment income for 20x1 if Pangasinan Co. elected the fair value
model to account its Investment in Siquijor Co. in its separate financial statements?
a. ₱14,000
b. ₱154,000
c. ₱360,000
d. ₱214,000

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