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1-2 Determination of Profit and Loss The following relates to the operating results (performance) of the business: CASE 1 CASE 2 CASE 3 Total income

1-2 Determination of Profit and Loss The following relates to the operating results (performance) of the business: CASE 1 CASE 2 CASE 3 Total income P85,000 P 90,000 P ? Total Expense 60,000 40,000 Profit (Loss) ? P 60,000 (P 10,000) CASE 4 P 60,000 ? P_ 10,000 CASE 5 P 75,000 ? P -0- 28

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