A, B, and C formed a joint operation for the sale of assorted fruits during the Christmas season. Their transactions during the two-month period are summarized below. The joint arrangement provided for the division of gains and losses among A, B, and C in the ratio of 2:3:5. The joint operation is to close on December 31. 2021. Joint Operation Nov. 5 - Merchandise - A P8,500 Nov. 15 - Cash Sales - C P20.400 Nov 12 - Merchandise - B 7.000 Nov 18 - Cash Sales - C 4.200 Nov. 14 - Freight In - C 200 Nov. 30 - Merchandise - B 1.210 Dec. 10 - Purchases - C 3.500 Dec. 25 - Unsold Merchandise - A 540 Dec 22 - Selling Expenses - C 550