38. QC Company had an agency in lloilo City. During the year, the transactions of the agency are summarized below: P868000 800.000 The agency had P200,000 receivables and P100,000 payables as of the end of the period. Also, there are inventories on hand of P180,000 and unused supplies of P12,000. The agency was set up as an experiment for one year and would be closed if losses were incurred. The agency should be: a. Reviewed again, because it was a break even operation. b. Closed with the period 's operating loss of P310,000. c. Closed with the period '5 operating loss of P118,000. d. Continued with the period 's prot of P50.000