How much is the net income (loss) to be recognized by Papasa Company for 2019?

2. Papasa Company consigned 100 engine parts to ZULU Inc. on 1st April, 2019 on the following terms: (i) ZULU to get 1212 % commission of the sale price up to P12,500 per engine part; for parts sold at above this price, ZULU was to share the profit equally with Papasa Company. (ii) ZULU was to meet all expenses after the parts reached consignee's place and was to guarantee all debts. (ii) Papasa Company was to guarantee trouble-free performance for one year-any expenses in this regard borne by ZULU were to be immediately reimbursed to him. Further, Papasa Company was to post an engineer at ZULU's engineering department for the purpose. The cost of each diesel engine to Papasa Company was P7,000; Papasa Company, paid P1,000 on freight per part and packing and 1% ECGC Commission (on the basis of P12,500 per engine) which covered 75% of the loss that may arise because of the failure of the buyer/agent to remit the amount due. ZULU reported a sale of 80 engine parts (average date Ist Oct. 2019). Of these, 80 engine parts had been sold at P13,000; he had spent P35,000 on maintenance for which reimbursement had been made by Papasa Company. ZULU had remitted the amount due to Papasa Company. The monthly cost of the engineer posted at Dacca was P4,000 starting from 1st November, 2019