Month Sales The following information pertains to Purchases January P 100,000.00 P 50,000.00 February P 125,000.00 March P 105,000.00 P48,000.00 P40,000.00 35% of sales are collected within the month of sale while the remaining balance are collected the following month. 20% of purchases are paid within the month of purchase while the remaining balance are paid the next month. Labor costs are 30% of sales. Other operating costs are P44,000 per month (including P19,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is P26,000.