Aeta Company is engaged in the business of buying and selling heavy equipments.As of December 31 of the current year, the following information was selected from Aeta's records:

Property, plant and equipment (net, excluding land)35,000,000

Accounts receivable20,000,000

Prepaid insurance2,500,000

Short-term note payable3,000,000

Cash5,000,000

Long-term note payable40,000,000

Land20,000,000

Accounts payable8,000,000

Allowance for doubtful accounts1,000,000

Merchandise inventory13,000,000

Wages payable2,000,000

Assuming that the beginning capital for the current year of Aeta is P30,000,000, personal drawings for the current year amounted to P3,600,000 and operating expenses for the whole year is P5,750,000, the amount of gross profit earned for the current year is:

a. 18,850,000

b. 18,100,000

c. 18,650,000