22. Echo Company has an employee benefit plan for compensated absences that gives employees 10 paid vacation days and 10 paid sick days. Both vacation and sick days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days. However, no payment is given for sick days not taken. At year-end, the unadjusted balance of liability for compensated absences was P210,000. The company estimated that there were 150 vacation days and 75 sick days available at year-end. The employees earn an average of P1,000 per day. At year-end, what amount of liability for compensated absences is required to be reported? A. 150,000 B. 210,000 C. 225,000 D. 360,000