Home office separates a number of branches. On December 31, 2016, its Branch B showed a home office account

balance of P54,700. The interoffice accounts at the beginning of the year were correct, however during the year there

were errors in recording in both home office and branch. The following errors occurred during the year:

A P24,000 shipment charged by the home office to Branch B was actually sent to and retained by Branch C.

A P30,000 shipment intended and charged to Branch A was shipped to Branch B and retained by the latter.

A P4,000 emergency cash transfer from Branch C was not taken up in the home office books.

Home office collects Branch B's customer accounts of P7,200 and fails to notify the branch

Home office charged for P2,400 for merchandise returned by Branch B on December 30 and is in transit

Home office erroneously recorded Branch B's net income for the year at P32,550. Branch B reported net income.