On August, 2019, HBO consigned to GEO 10 laptops costing P15,000 each, paying freight charge of P15,000. At the end of the month, GEO reported sales of 6 handbags at P30,000 each and incurred expenses of P12,500 and remitted the net proceeds due to HBO after deducting a 20% commission on the sales price.

How much net income did HBO realize in August on the consignment?

A. 37,500 income C. 33,500 loss

B. 32,500 income D. 32,500 loss