AC Company reported a net income of P 78,600 for the year ended December 31, 2020. An audit of the company's accounts; however, revealed the following errors during the year:

A. Goods in the hands of the consignees, costing P 6,000 were included in the inventory. however, P 3,600 of the goods were sold before December 31, 2020 for P 4,800 cash, the net proceeds remitted to AC Company.

B. Goods purchased were in transit on December 31, 2020, The goods which cost P 7,500 were shipped to AC Company, FOB shipping point, on December 23, 2020. No entry was made of the shipment until the goods were received on January 4, 2021, nor were they included in the inventory.

C. Good received on consignment from T Company, unsold, invoiced at P 5,200, were included in AC Company's year end inventory.

D. Goods costing P 6,100 were included in the inventory although it was shipped to a customer on December 26, 2020, FOB shipping paint, at a sales price of P 8,400. The sale was recorded upon shipment.

E. Goods costing P 4,700 were received on January 4, 2021. Although shipped by the supplier on December 28, 2020, FOB shipping point the purchase was recorded and the goods included in the inventory when payment was made on January 10, 2021.

The corrected net income for the year 2020 was?

a. 64,900

b. 63,700

c. 90,800

d. 78,600