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Corporation has the following data in their accounting books. Sales P1,000,000 Cost of sales 50,000 Salaries expenses 40,000 Utilities expense 10,000 Cash 25,000 Accounts receivable

Corporation has the following data in their accounting books.

Sales P1,000,000

Cost of sales 50,000

Salaries expenses 40,000

Utilities expense 10,000

Cash 25,000

Accounts receivable 15,000

What is the Net income of corporation?

400000
425000
360000
440000

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