A corporation's current assets and liabilities section of the statement of financial position as of December 31, 2021 appear as follows:

Cash	1,200,000
Accounts receivable (net of allowance of P210,000)	2,460,000
Inventories	5,130,000
Prepaid expenses	270,000
Accounts payable	1,830,000
Notes payable	2,010,000

The following errors were discovered:

• January 2022 cash disbursements entered as of December 2021 included payment of accounts payable in the amount of P1,170,000 on which a cash discount of 2% was taken
• The inventory included P810,000 of merchandise that have been received at December 31 but for which no purchase invoices have been received or entered. Of this amount, P360,000 had been received on consignment; the remainder was purchased F.O.B. destination with terms 2/10, n/30
• Sales for the first four days in January 2022 in the amount of P900,000 were entered in the sales book as of December 31, 2021. Of these, P645,000 were sales on account and the remainder were cash sales.
• Cash, not including cash sales, collected in January 2022 and entered as of December 31, 2021 totaled P1,059,720. Of this amount, P699,720 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.

Determine the amount of:

(1) net misstatement in reported 2021 profit (if overstatement, enclose your answer in parentheses or add a negative sign)

(2) adjusted working capital as of December 31, 2021