Below is the 2021 year-end balance sheet for the Northern Kingdom (NK), Inc.: Sales for 2021 were PHP 1,600,000 and are expected to be PHP 2,000,000 during 2022. In addition, NK plans to pay dividends of PHP 90,000 in 2022 and expects a projected net income of 4% of sales. Using the percent-of-sales method, what is NK's projected current assets for 2022 ? PHP 1,000,000 PHP 1,112,500 PHP 1,260,000 PHP 1,500,000