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31. Hydro Company opened a Sales Agency in Surigao, Pertinent Information regarding the sales agency transactions are found below: Sales P1,959,000 Collections, net of 4%
31. Hydro Company opened a Sales Agency in Surigao, Pertinent Information regarding the sales agency transactions are found below: Sales P1,959,000 Collections, net of 4% discount 1,451,520 Expenses paid from the agency working fund 190,500 Expenses allocated by the home office 89,550 Agency Samples: Cost 102,000 Inventory, end 10,800 Hydro's gross profit rate is 30% on net sales. The receivable balance is estimated to be 97% collectible. What is the net income of Surigao sales agency
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