22. The Neneng Corporation established its San Pedro branch in March 201. During the first year of operations, the home office shipped to the branch merchandise which had cost of P120,000. Three fourths of these merchandise was sold by the branch for P141,000. Operating expenses of the branch amounted to P27,000. How much total comprehensive income will the branch report if merchandise is billed by the home office to the branch at 25% above cost? (1. P800 b. P1,200 c. P1,500 d. P8.000