FINALE INC. operates a service business. Total equity amounted to P6,000,000 at the end of 2020. Based on its 2021 accounting records, FINALEs equity at the end of the year amounted to P10,000,000. Withdrawals equaled 15% of the increase in capital. Investments amounted to 30% of ending equity. Mark-up based on sales is 25%. Tax rate is equal to 20%.

A breakdown of business expenses showed the following: general and administrative expense 1,175,000; selling expense 725,000; loss on sale of machinery - 25,000; interest income 15,000; gain on sale of land 75,000; Interest expense - 20,000.

Identify the required below.

1. How much is the Net Income after Tax?

2. Earnings before interest and taxes?

3. Cost of Goods Sold

4. Net Sales