Fischer Company opened its Tuguegarao Branch on January 1. Merchandise shipments from home office during the month, billed at 120% of cost, is P125,000. Branch returned damaged merchandise worth P15,620. On January 31, the branch reported a net loss of P2,270 and an inventory of P84,000. What is the net income(loss) of the branch to be taken up in the books of the Home Office? a. (1690) b. 6,500 c. (2,270) d. 1,960