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Cerritos Company began operations on January 1, 2014. During the first three years of operations, Cerritos Company reported net income of P800,000 for 2014, P2,500,000

Cerritos Company began operations on January 1, 2014. During the first three years of operations, Cerritos Company reported net income of P800,000 for 2014, P2,500,000 for 2015, and P3,000,000 for 201...

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