27) Under the accrual basis, rental income of Goten Company for the calendar year 2011 is P1,200,000. The company had a balance of P100,000 in its Unearned Rental Income at the beginning of the year and P150,000 at the end of the year. It also had a balance of P60,000 in its Accrued Rental Income at the beginning of the year and P80,000 at the end. What is the rental income under the cash basis of accounting? 28) Gravekeeper Company acquired patent and rights and pays advance royalties in some cases, and in other, royalties are paid within 90 days after year-end. The following are included in Gravekeeper's balance sheet: December 31, 2017 December 31, 2016 Prepaid royalties 55,000 45,000 Royalties payable 80,000 75,000 During 2017, Gravekeeper remitted royalties of P300,000. In its income statement for the year ended December 31, 2017, Gravekeeper Company should report royalty expense of