4. Atty. A. T. Lo opened a law firm on January 1, 2009 by investing cash of P50,000, and furniture & equipment of P45,000. She hired a secretary for a monthly salary of P8,500 and signed a lease contract for a monthly rental of P15,000. He rendered legal services and billed the clients P120,000 but the clients still owe him P35,000. The utilities expense amounted to P7,500 for two months but February bill is still unpaid. He bought and paid for supplies worth P6,000 of which P4,200 have been used up. What was the result of the business operation after two months