13) Sharac Company prepares quarterly interim financial reports. The company sells it products through sales agents who are paid a fixed monthly salary and a commission of 5% that is paid at year-end. Sales for the first quarter were P20,000,000. However, in the second quarter, the employee's union negotiated that agent's commissions be increased to 10% and be applied as of the beginning of the current year. Sales in the second quarter were P25,000,000. What would be the sales commission expense of Sharac Company charged in the second quarter's interim financial statements? 14) The following transactions for Brutavious Enterprises during the second quarter of 2014: Sales amounted to P5,000,000 and related cost of goods sold was P3,000,000 Selling expenses for the given period was P250,000. Depreciation is usually recorded by Brutavious at annual amount of P1,200,000. Real property taxes for the year in the amount of P600,000 were paid on April 1, 2014. An inventory loss arising from a temporary market decline of P400,000 had occurred on June 30, 2014 Ignoring income taxes, net income for the second quarter ending June 30, 2014 should be 15) Shatterstorm Company's P6,000,000 net income for the quarter ended September 30, 2017, included the following after-tax items: A P900,000 gain realized in May 2017 was allocated equally to the second, third and fourth quarters of 2017. A P500,000 cumulative effect loss resulting from a change in inventory valuation method was recognized on August 31, 2017 In addition, Shatterstorm paid P200,000 on February 1, 2017, for 2017 calendar-year real property tax. Of this amount, P50,000 was allocated to the third quarter of 2017, What is the net income for the quarter ended September 30, 2017