EDE Co. decided to sell candies in February, its first month of operation. The company purchased 1,000 packs of candies costing P60 per pack. Each pack contains 120 pcs of flavorful candies. EDE sold the candies at a price of P2 per 3 pcs (tatlo 'dos). At the end of the month, 60 pcs of candies re mained unsold. EDE's operating expenses for the month amounted to P8,400. Required: Based on the information available, and ignoring income taxes, prepare an income statement for the month of February. Exercise 9: Refer to exercise no. 8 (continuation). After realizing that the business was profitable, EDE decided to continue its operation in the following month. For the month of March, the company purchased 2,000 candies and were able to sell most of them for the same selling price. At the end of the month, one and a half packs of candies remain unsold, and the operating expenses amounted to P12,500. Required: Based on the information available, and ignoring income taxes, prepare an income statement for the month of March.