Case 1: The January 31, 2021 Statement of Financial Position of XYZ Corporation as follows Cash P 8,000.00 Account Receivable (net of allowance for uncollectibles accounts of P 2,000.00) 38,000.00 Inventory 16,000.00 Property, plant and equipment (net of allowance for accumulated depreciation of P 60,000.00) 40.000.00 P. 102,000.00 Accounts Payable P 82,500.00 Owner(s) Equity 19,500.00 P 102.000.00 Additional Information: Sales are budgeted as follows: February P 110,000.00 March 120,000.00 Collections are expected to be 60% in the month of sale, 38% the next month, and 2% uncollectible. . The gross margin is 25% of sales. Purchases each month are 75% of the next month's projected sales. The purchases are paid in full the following month. Other expenses for each month, paid in cash, are expected to be P 16,500.00. Depreciation each month is P 5,000.00 3. Based on the case above, what is the budgeted cash collection for February 2021? a. 63,800.00 b. 101,800.00 C. 66,000.00 d. 104,000.00 4. From the above case, what is the income/loss before income taxes for February 2021 if there are P 500.00 interest expenses incurred in January 2021 which was not yet recorded in the books? a. 6,000.00 b. 3,300.00 C. 3,800.00 d. 4,300.00 5. What are your expenses incurred if your budgeted income before tax is 12% of the gross profit while your cost of sales amounting to P 22,000.00 is 25% of sales? a. 50,160.00 b. 44,000.00 C. 66,000.00 d. 58,080.00