2B. Presented below are certain account balances of Home Products Company,r Ending inventory P 48,000 Interest expense 12,?00 Beginning accumulated prots 114,400 Freightin 10,100 Sales returns 12,400 Selling expenses 55,400 Income tax 15,900 Purchases 150,000 Administrative exp-ewes 02,500 Based on the data given above, how much would he the net income during the current year? c. P503211 a. P40,444 b. P40,400 H.151 income Purchase returns and allowances Ending accumulated prots Dividends income Sales discounts Sales Beginning inventory Purchase discounts 0. 560,000 P 6,500 10,500 134,000 F1,000 ?,000 350,000 45,300 2,500