Dolores Company has the following assets and liabilities at December 31, 2020 and December 31, 2021. Assets liabilities December 31, 2020------------- P9,000,000 P3,200,000 December 31,...

Dolores Company has the following assets and liabilities at December 31, 2020 and December 31, 2021.
                                                       Assets              liabilities
December 31, 2020------------- P9,000,000        P3,200,000
December 31, 2021------------- 12,000,000          4,500,000


During 2021, Dolores issued 10,000 shares of its P100 par ordinary share at P130 per share and declared dividends of P500,000.  There were no other changes affecting the equity accounts.   How much is the profit for year 2021? 900,000