Ochotorena Company made the following errors:

1. December 31, 2015 inventory was understated by P25,000.
2. December 31, 2016 inventory was overstated by P40,000.
3. Purchase on account in 2015 were understated by P100,000.
4. Advances to suppliers in 2016 totaling P130,000 were inappropriately charged as purchases.
5. December 31, 2015 prepaid insurance was overstated by P5,000.
6. December 31, 2015 unearned rent income was overstated by P26,000.
7. December 31, 2016 interest receivable was understated by P17,000.
8. December 31, 2016 accrued salaries payable was understated by P30,000.
9. Advances from customers in 2016 totaling P60,000 were inappropriately recognized as sales but the goods were delivered in 2017.
10. Depreciation expense in 2015 was overstated by P7,200.
11. In 2016, the acquisition cost of a delivery truck amounting to P90,000 was inappropriately charged as expense. The delivery truck has a useful life of five years. Ochotorenas policy is to provide a full years straight line depreciation in the year of acquisition and none in the year of disposal.
12. A fully depreciated equipment with no residual value was sold in 2017 for P50,000 but the sale was recorded in the following year.

Profits before correction of errors were P123,000, P156,000, and P210,000 in 2015, 2016, and 2017 respectively. Retained earnings before correction of errors were P1,123,000, P1,279,000 and P1,489,000 in 2015, 2016, and 2017, respectively.

What is the net (overstatement)/understatement of the errors on the 2015 profit?

153,200

3,200

(64,800)

(46,800)