11. On September 1, Star Company opened a branch in Dagupan City, shipping to i1 merchandise billed at P60,000. During the month, additional shipments were made at a billec price of P24,000. Returns by the branch of badorder goods were credited for P1,680. At the end of the month, the branch reported its inventory P33,600 and its net loss for the month at P5,200. Shipments to and from the branch were consistently billed at 120% of cost. On September 30, the branch inventory at cost and the branch net income (loss) as far as the Home Office is concerned are: P28, 000 and P2,920, respectively P28,000 and (P5,200), respectively P33, 600 and P2,920, respectively P33. 600 and P5,200. respective/v 9-99"